Wells Fargo's David Carroll, who had pay clawed back after the bank's fake-accounts scandal, will retire and be succeeded by Jonathan Weiss as wealth and investment management chief.
Despite the digitization of transactions, customers still need personal bankers. But financial institutions must adapt to specialize in problem-solving instead of sales.
Loan growth is tepid, optimism has waned for regulatory and tax reform, and questions abound on consumer credit, bank executives are warning as midyear approaches.
Wells Fargo streamlines Western unit, shifts executives as post-scandal overhaul continues; Goldman Sachs gets grief for "cynical" purchase of Venezuelan bonds at deep discount.
Retail banking chief Mary Mack made several changes, including restructuring leadership in the Western region, where some of the worst incidents in the Wells scandal were said to have occurred.
Reliance on asset-based loans protects banks as retail chains flounder; average FICO score hits record 700 while the percentage of those with scores below 600 hits new low.
Readers weigh in on a proposal for encouraging small bank installment loans, a firm that uses AI to reduce false alarms, what security improvements are needed for sharing customer data, and more.
Andy Maguire faces a challenge: tasked with upgrading HSBC's digital-banking systems, he has discovered that customers are twice as likely to trust a robot for heart surgery than for picking a savings account.
Brian Moynihan won praise from the Wells Fargo CEO for his handling of subprime, legal and other post-crisis issues during his first years as Bank of America's top executive.
