Recruiting

The Connecticut company recruited Robert Russell from Millington Bank to become its president and CEO.

The pressure is on for banks to help Black and Hispanic households build net worth. Many say that starts with diversifying the ranks of middle and upper management.

BNCCORP named an interim CEO as it looks for a permanent successor for Timothy Franz.

The New York commercial bank says geographic diversification is a long-term necessity and that the interplay of its private banking and commercial banking businesses has helped it withstand the economic shock of the coronavirus.

Len Devaisher once served as a regional executive for Old National Bancorp.

Mastercard Inc. vowed to improve the diversity of its leadership ranks, saying it plans to increase the number of Black leaders at the vice president level and above by 50% by 2025.

The embattled German payments company filed for insolvency, while its former COO is either on the run or looking for the missing $2 billion; the giant asset manager is looking to hire more college graduates rather than poach junior bankers.

Barry Sommers, a former head of wealth management at the New York bank, is the latest high-level hire by Wells CEO Charlie Scharf.

The Maryland company said the additions, including a former bank CEO, will strengthen its “overall operational and strategic management."

The bank’s Asia-Pacific chief backs law giving greater mainland control over the territory; the Center for Responsible Lending said big banks took in almost $12 billion in overdraft fees last year, with the bulk of it paid by lower-income customers.