Six senior executives at Chemical and TCF will move into similar roles when the merger closes later this year. Chemical Bank's current CEO, Tom Shafer, will become president of the combined bank, reporting to CEO Craig Dahl.
While there is no formal mandate to pursue a merger and other options are still being considered, Deutsche Bank Chief Executive Christian Sewing is said to have given up his resistance to doing a deal this year.
BB&T-SunTrust needs to pick a new name, but the best ones may be taken; banks need to be aware as criminals devise new ways to hide dirty money; Regions abandons indirect auto lending and more from this week's most-read stories.
Michael Capatides, CIBC's chief administrative officer and general counsel, will take over as CEO of CIBC Bank USA on April 1, replacing Larry Richman.
The banks have no choice but to pick a new name, marketing experts say, but good luck: The best ones may already be taken, made-up names can sound forced, and any change might nudge more customers to rethink their loyalties.
