national-regional

Wall Street Journal Royal Bank of Canada has big plans for wooing the wealthy now that it's locked up City National Bank. After closing its $5.4 billion purchase of the Los Angeles lender, the Canadian bank plans to rework its jumbo-mortgage product, in an attempt to lure more high-net-worth clients. It's not a novel concept. Other banks have used jumbo mortgages as bait to reel in the rich and sell them other products, such as investmentÂ...

Breaking News This Morning ...

KeyCorp to Buy First Niagara: KeyCorp announced early Friday that it plans to acquire First Niagara Financial Group for roughly $4.1 billion. The announcement, which was quickly heralded one of the biggest bank mergers of the year, added further fuel to claims that 2015 has been the biggest year for banks since the crisis, the Wall Street Journal writes. The deal capped off a busy week for bank mergers, after New...

Receiving Wide Coverage ...

Deutsche Bank Gets a Trim: After reporting a heavy 6 billion euro loss for the third quarter, Deutsche Bank announced it will cut jobs over the next two years. Deutsche will shed 9,000 full-time jobs, 6,000 external contractors and 20,000 other positions, according to the Wall Street Journal. In total, the bank employs around 100,000 people. The job cuts are part of a plan that the bank called "Strategy 2020," which should...

Receiving Wide Coverage ...

Barclays' New Boss: Barclays has tapped former J.P. Morgan Chase senior investment banker and hedge fund executive James Staley as its new chief executive. Staley fills the void left by Antony Jenkins, who was sacked by the British bank's board after it lost confidence in how he would improve returns to shareholders, the New York Times writes. Jenkins himself replaced Robert Diamond, Jr., who was fired in the wake of Barclays' admission...

Breaking News This Morning ...

The New York Department of Financial Services is in for a major shake-up. The department's interim head Anthony Albanese and its spokesman Matthew Anderson have told the office of New York Governor Andrew Cuomo that they will step down. The Wall Street Journal reports their decision to leave the agency comes at a time when the NYDFS has butted heads with the governor's office more than in the past. Reportedly, Cuomo...