Recruiting

CoinFund, a blockchain-focused investment firm, hired Christopher Perkins from Citigroup as managing partner and president to help bridge the gap to the traditional finance sector.

KeyCorp paid out bonuses to investment bankers of as much as $25,000 in June, according to people familiar with the matter, joining other financial firms that have boosted pay to retain talent.

Banks are struggling to hire and retain workers in a tight labor market. To stay competitive, they are making concessions on wages and remote work that likely would have been unnecessary before the pandemic.

Citigroup attracted close to $15 billion in net new money across its Asia Pacific wealth management business in the first six months of 2021, as hundreds of new hires helped the lender mark one of its strongest half years on record for the unit.

JPMorgan Chase is planning to more than double the advisors in its traditional broker business as the Wall Street giant plots an expansion in wealth management amid intensifying competition for rich clients.

Citigroup joined rivals including UBS Group in touting its flexible work policies as a tool that will offer a competitive edge in recruiting and retaining top staff.

Most credit unions don’t offer planning services, and affiliating with the No. 1 IBD could help CUNA Brokerage change that, the firm’s president says.

JPMorgan Chase hired executives from Goldman Sachs Group and Wells Fargo to run a new arm focused on growth-equity investing and direct lending, as it seeks to give clients exposure to companies before they go public.

Will McLane is expected to help the London-based bank develop strategic initiatives, look for acquisition opportunities and form technology partnerships, a person familiar with the matter said.

The move follows four years of pay increases that brought the company’s minimum wage to an hourly $20 in 2020 from $15.

Eighteen months after launching Second Chance in Chicago, JPMorgan is bringing the recruitment effort to Columbus, Ohio.

Queensborough National Bank and Trust in Georgia is one of several banks aiming to recruit tech-savvy interns through a network of universities and fintech companies.

Investment banker Robert Jackey has left Citigroup to join SVB Financial Group, according to people familiar with the matter, as the parent of Silicon Valley Bank bulks up its health care advisory unit.

The Oklahoma regional bank said Steven Bradshaw plans to retire in March 2022.

Citigroup hired Ken Blanco, the director of the Financial Crimes Enforcement Network, as chief compliance officer of its newly created financial crimes unit.

Brees, who recently retired as the quarterback of the New Orleans Saints, is a customer of the Louisiana banking company.

Virtual training and orientation, including any licensing needed, will begin in July for the bank’s campus hires, with the aim of having new employees at offices in October, Bank of America said.

JPMorgan Chase said it plans to hire 300 additional Black and Latinx wealth advisers by 2025 to serve more clients from those communities and allow employees from diverse backgrounds to advance in their careers.

Longtime leader John Young plans to retire at the end of 2021, and the credit union has hired Humanidei to find a replacement.

Brian Milton, who ran MUFG Union's digital bank, was named head of banking and would become CEO of Thrivent Bank, which plans to have a digitally focused platform and operate as an industrial loan company.