Webster Financial on Tuesday reported a steep rise in nonperforming loans and leases, but executives said the double-digit increase does not signal widespread credit problems ahead. Instead, the first-quarter surge in default loans and leases — which are up 53% year-over-year — involves just five credits, four in the commercial-and-industrial loan book and one in
JPMorgan Chase CFO Jeremy Barnum said on the company’s first-quarter earnings call Friday that the bank had seen good momentum in investment banking, but was still cautious going forward. JPMorgan Chase has started to break out of the investment banking slump that hit the entire industry last year, though it continues to wait out a
Greg Guyett oversees a broad range of businesses as the chief executive of HSBC’s global banking and markets unit, a role he took on in October 2022, just before rivals started making deep job cuts. But he’s looking to grow most of these businesses including investment banking, securities services and transaction banking, he told Financial News in a wide-ranging interview.
Barclays is preparing a fresh wave of job cuts that will affect hundreds of employees within its investment bank, according to reports. The UK lender, which unveiled a strategy revamp in February in a bid to boost returns and cut costs, will strip out hundreds of roles across investment banking, research and markets, Bloomberg reported.
Chinese national flags flutter at Tian’anmen Square ahead of the annual two sessions on Feb. 29, 2024 in Beijing, China. New bank lending in China fell more than expected in February from a record high the previous month, even as the central bank seeks to spur sluggish economic growth and fight deflationary pressures. Vcg |
New York Community Bancorp’s latest leadership revamp did little to quell investors’ worries about the Long Island-based bank, as its stock price fell nearly 26% after a flurry of announcements that started late Thursday. The company said early Friday that it has filled gaps in its executive ranks by hiring a new chief risk officer
Citigroup has hired JPMorgan Chase’s Viswas Raghavan (left) as its head of banking. Filippo Gori (top right) and Doug Petno (bottom right) have been named co-heads of investment banking and are splitting Raghavan’s former duties at JPMorgan. Citigroup has lured a high-ranking executive away from JPMorgan Chase to head up one of its five core business lines,
Fellowship selection and success The Open Access fellowship program is available to candidates in all stages of their careers, from recent graduates to seasoned professionals. The program is also highly selective. For example, Lopez completed seven college internships in public policy, economics and commercial real estate. Thomas spent years working in finance, including a role
Commercial and residential buildings are illuminated at dawn in Seoul, South Korea, on Saturday, Oct. 21, 2023. South Korea has prepared a financial support program of 75.9 trillion won ($56.97 billion) for companies increasing investment in key sectors as well as small businesses struggling with the impact of high interest rates. Bloomberg | Bloomberg | Getty
