The nation’s fifth-largest bank now has the financial flexibility to consolidate more branches in existing markets and open new, smaller ones in cities where it has no retail presence, CEO Andy Cecere said. ... Read full article
The Dallas company beat earnings estimates even as it reported declines in deposits, total loans and fee income. ... Read full article
Goldman Sachs Group Inc., owner of one of Wall Street’s top deal-making franchises, leaned on that business last quarter to overcome an industrywide downturn in fixed-income trading. ... Read full article
Emily Vaughan Alexanderson will lead a group focused on education, nonprofit, technology and life sciences clients. ... Read full article
The bank, which plans to host an investor day next month, didn’t provide any annual targets for 2019. The company said it expects net interest income to be little changed in the first quarter. ... Read full article
Citigroup Inc. gave investors the first look at how Wall Street banks fared during the violent market swings at the end of 2018 — and it’s grim. ... Read full article
CEOs on the hot seat. Banks fighting to stay independent. Comfortable players ripe for disruption from Amazon and others. It is shaping up as a riveting year. ... Read full article
New CEO John Turner hasn't fully laid out his vision for the future, but it clearly will involve hiring specialized lenders, balancing labor-saving AI with old-fashioned relationship building, and more streamlining. ... Read full article
The U.S. subsidiary of the Royal Bank of Canada has added bankers from MUFG Union Bank and Bank of America to its Orange County, Calif., team that serves the aerospace and defense industry. ... Read full article
It’s still primarily a commercial bank, but the branding campaign — CIT’s first in a dozen years — is designed to appeal to the group driving its torrid deposit growth: retail savers. ... Read full article
Speaking at an investor conference Wednesday, John Turner said that sellers’ asking prices are too high and that Regions would prefer to buy a nonbank that could help boost fee income. ... Read full article
Robert Rubino will join the New York company in February as president of CIT Bank and head of commercial banking. ... Read full article
U.S. earnings climbed 44% from a year earlier, aided by lower taxes, a widening net interest margin, record contributions from its stake in TD Ameritrade. ... Read full article
It's the latest expansion step in commercial services there by the Atlanta bank, which has no retail branches in Texas. ... Read full article
The lender is working with the fintech Biz2Credit to offer both secured and unsecured digital loans. ... Read full article
The bank has long had a program in place to train new employees, but now it’s testing a pilot to help retrain existing staff for different careers at the institution. ... Read full article
Citigroup CEO Michael Corbat added to the chorus of bankers offering warnings about credit risks that loom outside of the banking industry. ... Read full article
The mutual holding company received regulatory approval to form a limited-purpose commercial bank, allowing it to work around a state law barring mutuals from working with municipalities. ... Read full article
The results won’t do much to stimulate loan growth but could still provide the boost that investors have been waiting for. ... Read full article
With the midterms finally over, we discuss how the results will affect regulatory and legislative policy for financial institutions going forward — as well as how they'll affect the 2020 race. ... Read full article
