Workplace

Credit Suisse Group is considering cutting the bonus pool for 2022 by about half, according to people familiar with the matter, capping a grim year in which the bank was forced to raise $4 billion after a string of losses.

Coinbase Global is firing about 950 employees, or 20% of its workforce, as the worsening crypto slump spurs another round of layoffs at the biggest U.S. digital-asset exchange.

Big banks are aiming to bring their existing technologists up to speed with cloud certification and other modern architecture training.

Goldman Sachs is embarking on one of its biggest rounds of job cuts ever as it locks in on a plan to eliminate about 3,200 positions this week, with the bank's leadership going deeper than rivals to shed jobs.

Burdensome regulations have decimated correspondent banking relationships, harming the most vulnerable in the U.S. and abroad.

Bank of America was an anchor investor for a new $100 million fund managed by Mendoza Ventures, which backs companies with founders from minority and other diverse backgrounds in the financial technology, artificial intelligence and cybersecurity industries.

Nadine Chakar will take the helm at Securrency from current CEO Dan Doney, who will become chief technology officer.

Genesis Global Trading has laid off more than 60 employees in its latest round of job cuts, amounting to roughly 30% of the troubled crypto brokerage's workforce.

Minority depository institutions have limited budgets and staff to upgrade their technology. Some are turning to secondment programs and like-minded fintechs to tackle these problems.

The Spanish lender, aiming to become a leader among second-tier lenders in the U.S., expects to increase the number of bankers at its securities and advisory unit, its head of corporate and investment banking said.

Return to office vs. remote work, the Great Resignation, rising wages in the face of inflation, workers trying to unionize, the ongoing fight for diversity in hiring and promotions: the year in human resources.

Truist CIO Ken Meyer and other bank leaders are seeing the chance to hire engineers, developers and data scientists.

The firm may get rid of up to 4,000 jobs to contain a slump in profit and revenue, people with knowledge of the matter said earlier this month, although the final number could come in lower.

Executive coaching programs and specialized employee resource groups have helped financial institutions broaden their available pools of talent and ensure more representation throughout all levels of management.

Your best future employees aren't looking for banking jobs. Successful hiring requires actively seeking out talent.

Commercial loans at federally insured credit unions increased 25% to $132.2 billion in the third quarter of 2022, even though many institutions are facing a tough job market. Their answer is to find strong candidates within their own ranks.

Banks and other lenders revived special-purpose credit programs after racial-equity protests in 2020 prompted them to reexamine their services for historically underserved groups. Now they're taking those initiatives nationwide.

American Express, LendingClub and Webster Bank are among the financial firms that named new chief information officers and chief technology officers.

Amid high inflation and favorable conditions for job-seekers, several banks hiked their starting wages this year. But even as their labor costs rose, they still found it hard to hang onto employees.

On issues from guns and abortion to climate change to corporate diversity, banks that have been trying to satisfy progressive groups felt blowback this year from right-leaning organizations and Republican officials.