Strategic planning

The megabank had previously announced plans to shed consumer and commercial banking units in Russia, which invaded Ukraine in February. The revised plan is expected to cost about $170 million over the next year and a half.

Goldman Sachs Group is reconsidering how to launch a long-delayed product for the masses as senior executives wrestle with cost overruns.

Conversations with about a dozen Credit Suisse dealmakers, traders, financiers and wealth advisors depict a unit girded for a reckoning.

A warning for investment bankers who enjoyed lavish bonuses for 2021, when banks opened their wallets to reward busy dealmakers amid a war for talent: Don't expect a repeat this year.

Robinhood Markets cut almost a quarter of its workforce in a broad reorganization after a punishing first year as a public company.

Elliott Investment Management is holding discussions with PayPal Holdings over an agreement that would see the activist investor have a hand in determining the future direction of the company, according to people familiar with the matter. 

With Ulrich Koerner taking over as chief executive officer, Credit Suisse Group’s top ranks are looking more like UBS Group, suggesting the firm may draw from its crosstown rival’s playbook.

Visa said it will hand out annual raises for more-junior employees earlier as it seeks to help staffers battling once-in-a-generation levels of inflation.

Credit Suisse Group plans to announce the departure of Chief Executive Thomas Gottstein, The Wall Street Journal reported, part of efforts to turn around the struggling company. 

The latest expense guidance also stems from rising operating losses at the North Carolina bank. Cost-cutting was a key rationale for the 2019 merger of BB&T and SunTrust, which created Truist.