March 5, 2024
Via: Insurance JournalLloyd’s of London has hit a short-term target of filling 35% of leadership roles with women, although less than half of firms in the commercial insurance market had hit the mark, it said on Tuesday. Lloyd’s said it needed to […]
February 26, 2024
Via: Banking DiveCiti has appointed Viswas Raghavan as head of banking and executive vice chair, CEO Jane Fraser said in a memo Monday. Raghavan will oversee Citi’s investment, corporate and commercial banking businesses, which is one of the company’s core units. He […]
February 15, 2024
Via: YahooFortune magazine again recognized U.S. Bank as one of the 2024 World’s Most Admired Companies, naming it No. 1 in the Superregional Banks category for the 14th consecutive year. Within the Superregional Banks industry category, U.S. Bank topped the list […]
February 13, 2024
Via: FinTech FuturesFounded in 2000, Ateo specialises in providing post-trade solutions, including post-trade allocation, clearing engine and APIs, for banks, brokers, dealers and the wider trading industry. The French company has been engaged in a partnership with Trading Technologies since November 2022, […]
February 8, 2024
Via: Payments DivePayPal’s new management isn’t finished cutting costs in its pursuit of more profitable growth, according to the digital payment company’s new chief financial officer. Chiming in for the first time Wednesday during a presentation of the San Jose-based company’s fourth-quarter […]
Activity, Investment Banking, News
February 5, 2024
Via: FinTech FuturesThe German investment bank says the cuts will mainly apply to “non-client-facing areas” as it looks to streamline its business in Germany and lower its annual total operating cost to €20 billion by 2025. Deutsche Bank currently employs around 90,000 […]
February 5, 2024
Via: FinTech FuturesLaunched in 2021, the app enabled the bank’s customers to buy, sell and hold cryptocurrency through partnerships with German software firm SAP and crypto exchange Coinbase. Upon the launch, Vast Bank claimed it had become the first bank in the […]
February 2, 2024
Via: Banking Dive“Sabbatical” is typically a word associated with tenured professors, who take time off to pursue intellectual pursuits. But what if you didn’t have to teach university courses to earn extended paid time off? Bank of America’s offering, launched in January […]
January 30, 2024
Via: Banking Dive2023 brought the most contentious proposed regulation in years: a revamp that would require the U.S.’s biggest banks to hold roughly 19% more capital than they do now. Lawmakers and trade groups opposed to the rule first attacked it on […]
January 29, 2024
Via: FinTech FuturesThe structural overhaul comes amid the group’s claims that more than 21 million of its customers prefer to bank via online or mobile channels, with just 8% exclusively opting for branch-based banking. As a result of this growing preference for […]
January 26, 2024
Via: FinTech FuturesUK asset management firm Abrdn has announced it is implementing a new “transformation programme” in a bid to streamline its operations and bring down costs, with 500 job cuts proposed. The company says the programme “targets an annualised cost reduction […]
January 24, 2024
Via: Insurance JournalMissouri consumers had more than $27.5 million returned from their insurance companies in 2023, the Missouri Department of Commerce and Insurance (DCI) announced. The amount returned to Missouri consumers was a result of DCI’s Insurance Consumer Affairs Division’s mediation work […]
January 22, 2024
Via: FinTech FuturesEstablished in 1992 and based in Ljubljana, SID Bank operates as a promotional development bank and export credit agency (ECA), providing insurance and financing on behalf of the Republic of Slovenia to promote internationalisation for the country’s export companies. As […]
January 18, 2024
Via: Banking DiveCitizens Bank reduced its headcount by about 650 positions, or 3.5%, in the fourth quarter, the Providence, Rhode Island-based lender said Wednesday in an earnings release. The trim represents a combination of layoffs and attrition, bank officials said Wednesday. “I […]
January 16, 2024
Via: Banking DiveFor the quarter ending Dec. 31, the nation’s top six banks reported charges totaling $9.4 billion related to the Federal Deposit Insurance Corp.’s special assessment aimed at replenishing the agency’s deposit insurance fund after several bank failures last year. The […]
January 11, 2024
Via: Banking DivePoughkeepsie, New York-based Hudson Valley Credit Union has agreed to buy Catskill Hudson Bank and its parent company Hudson Bancorp, the company announced Wednesday. Stockholders of the community bank will receive $40.50 in cash for each share of Catskill Hudson […]
January 9, 2024
Via: Banking DiveBarclays’ ongoing effort to rein in expenses is the firm’s most significant cost-cutting plan since the 2008 financial crisis, according to SkyNews. The majority of the impacted jobs are within the bank’s support functions, reflecting the removal of management layers […]
January 9, 2024
Via: Banking Dive2024 might be the year of wait-and-see. Can we expect a resurgence in the factors that spurred the failure of several high-profile banks last year? How will regulators respond to pushback against proposed increases in capital requirements? What is the […]
January 5, 2024
Via: FinTech FuturesThe agreement will see the bank adopt its partner’s ATM-as-a-Service and ITM-as-a-Service offerings as a means to simplify access to financial services for the consumers and businesses it has been serving across Kansas City, USA, for the last 90 years. […]
January 4, 2024
Via: YahooU.S. Bank recently honored two small business clients for their extraordinary commitment to their communities with the bank’s first-ever Boundless Potential award. Taqueria Durango, a Mexican restaurant in St. Louis, and Interfaith Dental, a nonprofit dental clinic in Nashville, were […]