Commercial banking
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.
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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
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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 -
The Texas company has set up commercial banking offices in Charleston and Greenville, and it has established a private banking office in Atlanta. Its long-term goal is to build a branch network in some key Southeastern markets.
December 5 -
The Connecticut bank plans to add interLINK to its diverse stable of deposit-gathering businesses. A community bank in Texas had previously reached a deal to purchase the platform, but that transaction fell apart in September.
December 5 -
The platform will use artificial intelligence to create customized experiences for users.
December 5
