BankThink

Receiving Wide Coverage ...

Lots (and Lots) of Personnel Changes: News broke late yesterday that Wells Fargo was shuffling around some of its senior executives. Timothy Sloan is vacating his chief financial officer position to take over as Wells' head of wholesale banking. He replaces David Hoyt, who is retiring. John Shrewsberry, currently head of securities, will take over Sloan's CFO position. Wells didn't offer much of an explanation for the changes. CEO John Stumpf issued...

This "product" is weakened in the customers' mind when interacting with a living, breathing banker inevitably involves fending off sales pitches.

Small banks' increased compliance costs could lead to fewer relationship managers, streamlined service models and increased costs of credit. As such, many small business and middle-market customers may simply choose to take their business elsewhere.

Receiving Wide Coverage ...

Swiss Forex Probe: A Swiss watchdog has launched an investigation into whether eight banks manipulated the foreign currency exchange market. The banks include Barclays, Citigroup, Credit Suisse, JPMorgan Chase, Royal Bank of Scotland and UBS. The Swiss Competition Commission joins a host of other global regulators, including those in the U.K. and the U.S., that are trying to figure out whether financial firms manipulated currency markets. New York Times, Financial Times, Wall...

Profiling is good. Understanding customer needs is good. Proactively recommending products and services is good. But the timing you apply to those things matters.