Intense scrutiny from poker-faced CEO Charlie Scharf is prompting executives at the bank to ponder their units’ strategies — as well as what’s in store for their own careers.
Chris Maher, CEO of OceanFirst Financial, shares how employees’ roles have already changed and his bank’s efforts to help them navigate AI and other emerging technologies.
The rapid pace of technological change will force financial services companies to invest in more efficient digital offerings for clients, eliminate jobs and retrain staff to focus on higher-value work, according to an Accenture report.
The legislation, sponsored by Rep. Cindy Axne of Iowa, aims to hold public companies accountable for moving jobs overseas. It won unanimous support from House Democrats but attracted only two votes from Republicans.
The firm’s financial woes are mostly a result of overspending, but they have raised questions about how banks’ commercial real estate portfolios might fare if the coworking sector implodes.
Incoming CEO Charles Scharf will remain in New York even though the bank's headquarters is in San Francisco. His hiring underscores the diminished importance of geographical proximity for executives at large banks.
