Recruiting

Bank of Montreal is raising the minimum wage for its U.S. branch and contact-center employees to $20 an hour, its second such pay bump in less than a year, as companies fight for workers in a tight labor market.

Robert Goscicki has stepped down as president and CEO of Area Federal Credit Union in Aberdeen.

Citadel Credit Union, armed with a team of professionals who previously worked at Santander Bank, plans to hold its own in a commercial lending market dominated by PNC Financial Services Group, Bank of America and Wells Fargo.

The bank’s current focus is on its Calgary innovation hub, where it’s looking to reach 300 employees by the end of next year.

Paul Taylor, one of the company's directors, will become president in anticipation of succeeding Matthew Wagner, who has been chief executive for 22 years and plans to retire at the end of 2023.

The lender’s minimum wage will rise to C$20 per hour in Canada and $20 in the U.S. in July, and the bank is committing to raise those figures to C$25 and $25 by the end of 2025, according to a statement from CEO Victor Dodig on Thursday.

Bank of Montreal hired Piyush Agrawal from Citigroup as chief risk officer to succeed Patrick Cronin, who’s stepping down later this year.

Canada’s banks expanded their workforces last quarter at the fastest pace in almost four years, braving a historically tight labor market to bolster their sales staffs and technology operations.

Staff at major banks and some of the world’s biggest technology giants are increasingly leaving for fintech startups, new analysis shows. 

Citigroup plans to hire more than 4,000 tech staff to help move its institutional clients online in the wake of the pandemic.

Goldman Sachs Group will allow senior staff to take an unlimited number of vacation days, the latest move by a Wall Street bank to retain talent in a heated job market.

The wealth programs in the channel are going through a significant shift amid major recruiting moves and consolidation, according to a consultant’s report.

Cryptocurrency firms, armed with cash and in need of regulatory experience, are poaching U.K. cybercrime cops with offers of double or triple pay.

The new hires joined Veritex from Bank of Houston, which has also been aggressively recruiting bankers.

The bank is also partnering with a university-affiliated startup incubator in its effort to hire 200 people with tech skills in the southern part of the state.

Moves by financial heavyweights — and one banker’s profile reinvention — underscore how far Wall Street firms have come in accepting cryptocurrencies.

JPMorgan Chase unveiled plans for its new global headquarters — a 60-story skyscraper in midtown Manhattan that, according to the bank, demonstrates its commitment to New York City’s revival.

Walmart named PayPal Chief Financial Officer John Rainey as its new finance chief, turning to a company outsider as it seeks to build a financial technology venture and a membership program.

Credit Suisse Group is looking for a new chief executive officer to run its U.S. holding company as the Swiss bank seeks to build out its business in the country following a series of setbacks.

Martin Grant, who serve as the Federal Reserve Bank of New York's chief compliance and ethics officer for more than 15 years, has joined JST Capital, a financial services firm for digital assets.