Commercial banking
A shareholder group that is pushing the nation's largest banks to conduct racial equity audits criticized JPMorgan Chase's effort, while giving a more favorable review of a Citigroup report. Banks small and large launched racial equity initiatives in 2020 in the wake of protests sparked by the murder of George Floyd.
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The business being sold to Madison Dearborn Partners provides trustee and administrative services to asset managers and retirement plans.
December 19 -
Bible spent 14 years at BB&T and Truist before announcing his retirement earlier this year. He will replace Darren King, who will remain at M&T in a new role.
December 15
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The overwhelming majority of top leaders at large U.S and Canadian banks expect a prolonged downturn in 2023, according to a recent survey. Almost none of them expect it to be particularly harsh, though.
December 12 -
William Demchak, the Pittsburgh bank's CEO, is leery of acquiring banks amid elevated regulatory scrutiny. KeyCorp Chief Executive Chris Gorman has similar concerns, citing economic uncertainty in addition to the long waits for approval.
December 8 -
Executives at the Minneapolis company said Wednesday that they expect earnings-per-share accretion to be higher than they previously anticipated. But their estimate for merger-related expenses also rose.
December 7 -
Investment bankers working on mergers and acquisitions need to review their due diligence processes to ensure deals aren't upended by an evolving set of ESG risks, according to Berkeley Research Group.
December 7 -
After several years when the scandal-plagued bank was focused on cost cutting, CEO Charlie Scharf indicated Tuesday that the company has opportunities to expand revenue across every line of business.
December 6 -
Though the Phoenix-based Carvana has seen its share price plummet and sales weaken amid macroeconomic headwinds, Ally CEO Jeffrey Brown predicted the used-car retailer will "get through this" and remain an important source of business.
December 6 -
CEO Bill Rogers affirmed the North Carolina bank's commitment to an expansion of Truist Insurance Holdings. But he declined to comment on a recent report that the company was exploring the potential sale of up to 30% of the business.
December 6
