Incoming CEO Charles Scharf will remain in New York even though the bank's headquarters is in San Francisco. His hiring underscores the diminished importance of geographical proximity for executives at large banks.
Bank of New York Mellon’s quick decision to elevate the longtime executive to succeed Charles Scharf on an interim basis was well received. Will the board keep him, or search for an outsider for the long term?
Charlie Scharf’s most immediate priorities will be mending fences with regulators and getting the bank out from under a Fed-imposed asset cap. But he also must come up with strategies for spurring revenue growth and reining in expenses.
It’s hard to time the next economic slowdown. But lenders, many with lingering memories of the financial crisis, are taking steps now to limit exposure in commercial real estate, construction and other loan segments.
Banks clear both rounds of stress tests (though two of them needed a do-over); BNY Mellon goes all-in on digital; bank industry struggles to stop slide in latest reputation survey; and more from this week's most-read stories.
Some banks are setting up their own parallel digital banks, while others form innovation labs. Roman Regelman says BNY Mellon is transforming the entire institution.
State Street, BNY Mellon, UBS and Credit Suisse are among the banks that have created a company to bring their idea of a utility settlement coin to life.
Subhankar Sinha, the bank’s new head of blockchain, says its partnership with Bakkt is part of a larger effort to figure out what it would look like to be a custodian for digital assets.
As CFPB mulls privatizing database, consumer complaints are on the rise; an argument for continued human oversight of artificial intelligence; how some banks are luring talent from big tech; and more from this week's most-read stories.
