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Did JPMorgan just tip its hand on a succession plan?

Jennifer Piepszak (left) and Marianne Lake of JPMorgan Chase.
Marianne Lake (right), seen in recent months as a leading candidate to replace CEO Jamie Dimon, got the post she may have needed to round out her resume — consumer lending chief. And Jennifer Piepszak, another rising star at the company, will take over as CFO from Lake.

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U.S. Bank hires its first chief digital officer

Derek White, as chief digital officer, U.S. Bancorp (holding company for U.S. Bank)
Derek White, an alumnus of BBVA and Barclays, will oversee digital innovation across all lines of business at the bank.

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SunTrust CFO to depart following merger with BB&T

Allison Dukes, Chief Financial Officer of SunTrust Banks.
Allison Dukes says she will not be joining the combined company because she wants to remain in Atlanta, where she is involved with several civic and philanthropic organizations. The merged company will be headquartered in Charlotte, N.C.

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'I know it's disappointing,' BNY Mellon chief says of 1Q

Charles Scharf
Charles Scharf, chief executive officer of Visa Inc., speaks during the Institute of International Finance G-20 Conference in Shanghai, China, on Friday, Feb. 26, 2016. The conference runs through Feb. 26. Photographer: Qilai Shen/Bloomberg *** Local Caption *** Charles Scharf
Qilai Shen/Bloomberg
Bank of New York Mellon's clients shifted more of their deposits to higher-rate products. It was one of several trends that hurt the custody bank's bottom line.

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How far will CFPB go to modernize debt collection rules?

CFPB Director Kathy Kraninger
Kathleen Kraninger, director of the Consumer Financial Protection Bureau (CFPB), waits to begin a House Financial Services Committee hearing in Washington, D.C., U.S., on Thursday, March 7, 2019. Chairwoman Maxine Waters is seeking information from the CFPB about recent settlements that did not include consumer relief and asking staff employees to blow the whistle on actions they see as weakening consumer protection. Photographer: Andrew Harrer/Bloomberg
Andrew Harrer/Bloomberg
A key question is whether the agency will restrict the ability of firms to track down delinquent borrowers with emails and text messages, which weren't in use when current regulations were adopted.

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Goldman Sachs plans wealth product aimed at mass affluent

David Solomon, CEO of Goldman Sachs.
"I'm encouraged by capital markets activity," Goldman Sachs CEO David Solomon said Tuesday. "I'm not going to say it's running back to 10-year averages right away, but it has materially improved."
The investment platform, which is in the early stages of development, will be part of Marcus, the consumer bank Goldman launched in 2016.

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The problem with Financial Literacy Month

mobile-pay.jpeg
Shopping cart on the screen.
David Molina Grande/daviles - stock.adobe.com
Financial education programs have been shown to be largely ineffective. What low-income consumers really need from banks are better products and more tailored advice.

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Inside KeyBank's tech turnaround

Stephanie Gillespie DevOps
KeyBank is deploying new technology designed to improve the online and mobile banking experience and to guide branch employees' conversations with customers. The move comes on top of steps to modernize its IT infrastructure.

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BB&T and SunTrust vow to minimize employee, client defections

AB-041819-MERGER.jpeg
The cold, hard truth of bank mergers is that rivals often steal top producers and convince customers the bigger bank won't care about them anymore. The CEOs of the merging banks explain their retention efforts.

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Why Citizens is willing to pay so much for deposits

Interest expense on deposits at Citizens Financial
The Rhode Island bank's deposit costs nearly doubled in the first quarter, but CEO Bruce Van Saun says it has to go on the offensive to sustain loan growth.

(Full story here.)
Succession planning Digital banking Earnings Debt collection Financial literacy Deposits JPMorgan Chase U.S. Bank CFPB News & Analysis
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