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.
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.
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.
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.
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.
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.
