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What Advisory Boards Can Do for Your Bank

04/22/15

With good planning, advisory boards can increase a bank's visibility, credibility and sales.

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Morning Scan: FDIC Floats Bank Failure Plan; The Man Behind the Flash Crash?

04/22/15

Receiving Wide Coverage ...

The Flash Unmasked? Are the world's financial markets so vulnerable that they can be brought down by some guy in the suburbs? That unsettling question is bound to reverberate throughout the industry in the wake of news that U.S. authorities are charging a London trader with triggering the May 2010 "flash crash" that temporarily sent stocks plummeting. Authorities say Navinder Singh Sarao frequently manipulated futures contracts prices by submitting and then canceling...

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Morning Scan: Wells Fargo Eyes GE Business Loans; Chip-and-Pin Mayhem

04/21/15

Breaking News This Morning ...

Earnings: Fifth Third, Synovus Receiving Wide Coverage ...

Bank Tax Backfire? British banks HSBC and Standard Chartered are considering fleeing the land of tea and crumpets for Asia in order to avoid the U.K.'s steep bank taxes. The discussion comes at the behest of shareholders rattled by Britain's decision last month to increase the bank tax by a third. (The tax has been hiked eight times since it was implemented in 2010, according...

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If Banks Can't Solve the Derisking Dilemma, Maybe the Government Will

04/20/15

More and more legal businesses are finding themselves shut out of the banking system. But there are a number of possible solutions-including passing a law that would require banks to maintain accounts for businesses able to meet some standard of due diligence.

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Morning Scan: Deutsche to Ditch Postbank; Does the DOJ Give Banks Sweetheart Deals?

04/20/15

Receiving Wide Coverage ...

Putting Postbank to Pasture: One way or another, Deutsche Bank plans to ditch its Postbank retail unit. The German megabank is leaning toward selling a majority stake in Postbank over the next year and a half whilst unloading a fifth of its investment-banking assets. But it's also considering the more drastic measure of getting out of retail altogether. The latter move has been recommended by some analysts, who say Deutsche should attempt...

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Morning Scan: Bloomberg Terminal Failure Delays Trading; Fed Rate Worries

04/17/15

Receiving Wide Coverage ...

Bloombergs Go Kaput: Add another name to the list of companies deemed systemically important: Bloomberg LP. The financial-data provider's terminals went down in Asia and Europe overnight, or perhaps even worldwide, leading the U.K.'s debt-management office to cancel a scheduled transaction to buy back government debt. The total system failure prompted Louis Gargour, chief investment officer at LNG Capital, to say, "a global outage like this is systemically important to markets all...

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Morning Scan: Bernanke to Join Hedge Fund Citadel; B of A's Weak Returns

04/16/15

Breaking News This Morning ... Earnings: Citigroup, Key Corp, Goldman Sachs New York Times Former Fed chairman Ben Bernanke is set to take a job as an adviser to hedge fund Citadel. Banks had recruited Bernanke, he told the paper (without naming his suitors), but he declined their offers. It's a well-worn path between the Federal Reserve and the private sector, particularly hedge funds. Former Fed chair Alan Greenspan worked as a consultant to hedge fundÂ...

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Morning Scan: Citi CEO Succession Plan Set? Pot Bank's Exit Strategy

04/14/15

Breaking News This Morning ...

Earnings: JPMorgan, Wells Fargo Wall Street Journal

Citigroup's reshuffling of executives announced on Monday included the appointment of a clear number two executive behind CEO Michael Corbat. Citi named Jamie Forese its sole president, making him the likely successor to Corbat should he step down, unnamed sources told the paper. Forese's promotion was not mentioned in a letter Corbat sent to Citi employees on Monday. Forese is currently head of Citi's investment bank...

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Morning Scan: GE Capital Sale Kicks Off; Wells Fargo Expands Investment Banking

04/13/15

Receiving Wide Coverage ...

GE Turns Off Bank Switch: Plenty of digital ink was spilled late Friday and over the weekend about General Electric's decision to sell its GE Capital unit. The Wall Street Journal suggests in one of its takes the exit decision represents a chance for banking and non-bank companies to acquire assets that could transform a company. The largest piece of the business up for sale is GE's $74 billion-asset commercial lending and...

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Morning Scan: GE Out of Banking; Rand Paul Takes Bitcoin, Natch

04/10/15

Receiving Wide Coverage ...

A Farewell to Banking: For General Electric, the banking business has lost its allure. The company plans to sell or spin off the bulk of its finance unit, GE Capital, over the next two years, returning to a focus on its industrial manufacturing business. Although the $500 billion-asset GE Capital brought in roughly half its parent company's earnings, it also came with a slew of regulations and risks that apparently weren't worth...

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