Bessant has served in a variety of leadership positions at the bank, including leading its technology initiatives and European strategy.

As the company prepares to slash headcount, CEO Solomon speaks up about his "caricature" portraits in the media

Employees across the financial services industry are organizing in the hopes of obtaining better wages and other workplace improvements.

With a slew of older executives nearing retirement, the credit union sector will have a big management void to fill. But finding and developing new talent will be easier said than done.

Kevin Meyersburg, who is white, says in a lawsuit that the Wall Street investment bank terminated his employment and replaced him with a Black woman who is less qualified for the position. Morgan Stanley declined to comment.

Here are some highlights about the largest credit unions that made the 2023 ranking of the Best Credit Unions to Work For.

Southwest Financial Credit Union, which led American Banker's Best Credit Unions to Work For, says employees are taking up to 400 hours more off than before its unlimited PTO policy took effect — but they are happier, and so are the members of the branchless credit union.

UBS is trying to retain many of Credit Suisse's most senior wealth bankers, but the decision to bring Babak Dastmaltschi on board, who catered to tycoons emerging from the collapse of the Soviet Union, may raise eyebrows.

The institutions in the second grouping of American Banker's top Credit Unions to Work For demonstrated the importance of a fun work environment, transparent leadership and competitive benefits.

The job cuts come amid caution about the industry's growth potential in the second half of the year. Some 45,000 positions have been lost in banking and related industries over the last two-plus years.