News Topic: Expense management
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RBC tops estimates as investment banking revenue hits record
Barclays hits record annual profit as dealmakers outperform
Expenses expected to keep weighing down bank profits
Atlantic Union keeps trimming branches
Synovus will close 15% of its branches next year
CIBC misses profit estimates as expenses accelerate
The demise of branches is overstated, big-bank executives say
Amerant Bank seeks big cost savings by outsourcing back-office work
Capital One backs away from efficiency target as spending rises
Wage increases undercut banks’ push to cut costs
Wells Fargo's Scharf finally making headway on cost-cutting goals
Citigroup forecasts higher expenses as it revamps its business model
Sierra Bancorp in California joins list of banks closing branches
Truist accelerates branch cuts, closes in on expense targets
Wells Fargo beats profit estimates but struggles on expenses
Goldman Sachs seeks volunteers for move to West Palm Beach digs
Goldman Sachs Group’s plan to move part of its asset management unit to Florida is gaining momentum, as the Wall Street bank discreetly seeks volunteers for the first wave and prepares office space. ]] ... Read full article
WSFS reinvention continues with Bryn Mawr Bank deal
The Delaware company would remove a rival, gain scale in affluent Philadelphia suburbs and accelerate its transformation from a branch-heavy lender to a digital-first bank with the $976 million acquisition. ... Read full article
Citigroup makeover should drive higher returns, CFO says
Efforts to simplify business operations under incoming CEO Jane Fraser will cost a lot of money but will ultimately create a safer, more profitable company, Chief Financial Officer Mark Mason said. ... Read full article
Bank of America cuts staff in investment banking and trading
Bank of America cut some of its staff in the global banking and markets division this week. The latest cuts mark an end to BofA's pledge not to eliminate any jobs in 2020 as the global pandemic flared. ... Read full article