Workplace

IntraFi has joined two banking industry trade groups spearheading an effort to source large institutional deposits at small, cash-starved CDFI and MDI banks.

The company's shareholders are ill-served by its large investments in fossil fuel projects that both damage the environment and present major financial risks.

The Boston-based custody bank will place deposits at Carver State Bank, Citizens Trust Bank and Ponce Bank as part of its broader effort to help reduce the wealth gap. State Street plans to place a total of $100 million of deposits at minority depository institutions this year.

As she prepares to leave to run a nonprofit after three decades in the industry, Cole said the financial services sector is better for women — but still has a long way to go.

In recent years, the wealth gulf between white and Black families has only grown. But there is hope that advances in fintech, such as wider adoption of artificial intelligence, can help.

Now the head of the Mizuho Americas' equity division, Pasquill started her career selling textiles, industrial products and medical equipment.

Fifty-seven percent of financial services firms now operate on a hybrid basis, according to new research from American Banker. Some banks are finding ways to maximize the positive aspects and minimize the negative ones.

The compensation committees at PNC, BOK Financial and a few other banks decided that their top leaders performed well amid industry challenges, and rewarded them for it.

Integrating artificial intelligence into banking operations needs to be done with a clear business purpose in mind, and the articulation of that purpose needs to come straight from the top of the organization.

Total direct compensation for the CEOs of large and midsize banks declined by 6.6% in 2023, and annual bonus payouts tumbled by 30%. The decreases came as banks grappled with the fallout from last spring's banking crisis.