Recruiting

Bank of America is slowing hiring as fewer employees leave in an attempt to manage the company's headcount ahead of a possible U.S. recession, Chief Executive Brian Moynihan said.

JPMorgan Chase is planning to increase headcount in its Latin American private-banking unit by about 25% next year as the firm looks to attract more clients with $5 million to $25 million to invest at the bank.

Across Wall Street, this year's bleak expectations for banker bonuses are rapidly proving true, as a slump in dealmaking ends the industry's war for talent and firms regain the upper hand in setting pay.

Michael Corbat, the former chief executive of Citigroup, is joining Josh Harris's new investment firm 26North Partners as a senior advisor.

InBankshares has hired a former PacWest senior executive — its third leader to come from a regional bank — in a move aimed at bringing in the skills necessary to run a much larger institution.

Walmart health care executive Cheryl Pegus will join JPMorgan Chase's Morgan Health venture as a managing director, with aims to improve employer-sponsored health care.

The British lender is offering to provide support for laid-off workers starting new fintech businesses and hopes to attract staff for some of its thousands of technology job vacancies.

Despite the massive losses and growing criticism that the industry is rife with fraudsters and Ponzi schemes, a dozen industry employees interviewed by Bloomberg News said that while they're rattled by the crisis, they remain committed to crypto and its potential.

Bank of America, JPMorgan Chase and other institutions — including more than two-thirds of honorees that made the Best Banks to Work For — show no let-up in their commitment to add transitioning service personnel. In fact, they're expanding their reach to include military spouses.

Highly acquisitive banks that pack on assets without sacrificing employee morale pepper American Banker's annual Best Banks to Work For rankings.

Wage transparency is seen as being particularly important for women, who are often paid less and could benefit from information that helps them negotiate higher salaries.

JPMorgan Chase is building out teams that handle card transactions and other payments for businesses by recruiting staff across key Asian markets amid the boom in digital commerce.

Barclays plans to hire more than 1,000 staff in the coming weeks to help consumers manage their finances through the looming downturn, according to its CEO.

Fidelity Investments is hiring an additional 100 people for its digital assets unit, stepping up an expansion that started in May and taking advantage of turmoil among crypto firms to lure talent. 

JPMorgan Chase is set to add another 20 people to its Saudi Arabia operation by the end of the year as it looks to capitalize on one of the world's few bright spots for equity capital markets, despite simmering political tensions between U.S. President Biden and Saudi Crown Prince Mohammed Bin Salman.

JPMorgan Chase has hired a new head of digital assets regulatory policy, less than a month after CEO Jamie Dimon told lawmakers that cryptocurrencies are "decentralized Ponzi schemes."

The biggest U.S. banks are continuing to add to their workforces even as executives from Wall Street firms Goldman Sachs Group and Morgan Stanley talk of scaling back amid a slump in dealmaking and capital markets.

Dennis Halpin will conclude his 18-year tenure with the credit union in January.

Bank of Nova Scotia's surprise pick of a CEO from outside its executive ranks is sparking a debate over whether major changes will result at Canada's third-largest lender.

Bank of America continues to spend on its people and is looking to add more investment bankers even as inflation pushes expenses higher, Chief Financial Officer Alastair Borthwick said.