Recruiting

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.

Thomas O'Brien will take the helm at Sterling Bancorp, which is dealing with internal control issues and probes by the OCC and Justice Department into its mortgage operations.

University Bancorp decided to shutter its wholesale mortgage lending business after it struggled to hire and train employees remotely.

The Iowa company said Brent Giles, who was CEO of a bank that was recently sold, will run its Wisconsin Bank & Trust.

In a still male-dominated industry, does the network help attract and keep more women at the firm? CEO Shirl Penney says yes and has the results to prove it.

Thomas Lopp cited health reasons for leaving Sterling Bancorp less than six months after becoming CEO. Sterling has been dealing with revenue issues after shutting down its biggest lending program over underwriting concerns.

The credit union regulator released its annual diversity report, which showed that more minorities were in senior roles but examiners remained predominantly white and male.

While some big banks have pledged to avoid layoffs this year, hiring freezes and delayed projects are becoming the norm during the pandemic.

The pandemic has the industry rethinking its hiring practices, such as how to onboard employees while limiting in-person interactions, and deciding which roles need to be filled immediately.

The voluntary agreements were meant to help the FDIC make staffing changes ahead of a wave of retirements. But concerns about the coronavirus means those plans will be put on hold.

Blair Korschun, who has led CU Direct Connect since 2011, will take the helm at Christian Community Credit Union later this month.

Tammy Heikkinen, who has led the institution since 2008, will stay on until her successor joins the credit union.

Rui Domingos, who was named as the Lexington, Mass.-based institution's president and CEO, has worked in the industry for almost three decades, most recently at Naveo CU in Somerville, Mass.

Zember abruptly resigned as CEO of Ameris Bancorp last summer.

Gene Foley joined Harvard University Employees CU as a teller in 1979 and has been CEO since 1994.

The tight labor market and public pressure to raise minimum wages are expected to nudge noninterest expenses upward in a year when the watchword is cost control.

The bank is offering big bonuses to hire new financial advisors; recent share repurchases have raised the cost of future rebuys.