Workplace

The former Bank of the West CEO told honorees at American Banker's Most Powerful Women in Banking NEXT Awards ceremony to be confident in themselves, but also to have empathy for others as they strive for senior management positions.

The cuts are said to be part of a plan to trim headcount by about 300 people — or 3% of overall jobs — across the corporate and investment bank.

At the Most Powerful Women in Banking conference, asset management leader Jenny Johnson discussed opportunities and risks for portfolio managers in 2023.

The Detroit-based firm said the job cuts will occur across divisions and aren't isolated to a single line of business.

The bank has already axed 5,000 jobs this year, costing $400 million in severance in the second quarter alone. This next phase will be more about eliminating the executive roles that sit two or three layers below the CEO.

When running a bank branch, there are certain employee behaviors that must be nonnegotiable. But that still leaves plenty of room for improvisation and creativity.

The suit alleged that many off-duty cops picked up shifts at TD as security guards, only to go unpaid or wait months for their paychecks. The settlement did not include an admission of liability by the bank.

During Hunger Action Month, firms in the payments and fintech space should consider the many ways they can leverage their products to improve Americans' access to healthy foods.

The Mer Rouge State Bank in Louisiana and Mission National Bank in San Francisco are among 184 banks to receive $70 million of grants from the Bank Enterprise Award Program, its largest awards ever.

Dawson Her Many Horses, a commercial banker at Wells Fargo, is a pivotal player in an effort among tribal leaders, the federal government and the private sector to improve the availability of economic data about Native American communities to encourage outside investment there.

Revenue challenges are driving the Utah bank's plan to reduce expenses, according to CEO Harris Simmons. "I talk to our peers, and everybody's looking for ways to cut costs," he said.

Frontline staffers are asking for better pay, internal talent development programs and more flexible work environments.

At least four of CEO Jane Fraser's senior deputies got new roles in the shakeup, which will result in a number of job cuts.

Hybrid working made it easier for some women to pursue a career while balancing family demands but a renewed return-to-office push may reverse some of those gains, a report predicted.

Women are still underrepresented in senior management positions in 62 European banks, according to a new report that highlighted how nine banks employed no women at all in their top executive group.

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.