Commercial banking

With the industry facing increasing pressure around climate disclosures, a new report highlights the challenges in measuring financed emissions as well as the potential payoff for banks that choose to be proactive.

JPMorgan Chase CEO Jamie Dimon and Bank of America Vice Chairman Paul Donofrio were among the high-level executives who last year received multimillion-dollar retention payments. The awards — sometimes known as “golden handcuffs” — were driven by the most competitive job market in recent history.

As the potential for a recession looms, the New York bank is continuing with its plan to grow wealth management and shrink its foreign consumer banking footprint.

Shares in Signature Bank fell by 29% in early May as cryptocurrency prices plunged. But after the bank’s chairman and outside analysts sent reassuring messages to investors, the New York bank has regained much of the ground it lost.

Executives at banks north of the border pointed this week to several potential U.S. economic snags, including inflation, the possibility of a housing market correction and soaring energy prices.

Wells Fargo, Citigroup and JPMorgan Chase were among the large banks that last year experienced net losses of high-level bankers in their corporate and commercial units, according to a new report. Bankers are leaving largely for jobs at private equity and debt funds, according to the authors.

As it walks away from retail here, the French bank wants to help business clients go abroad: “You have to be present.”