Banking industry
Consumer groups long ignored by the nation's banks, including minorities and those of low or moderate income, are expected to be among the winners in the banking industry's big mergers this year. The new banks, with extensive business in California, have committed nearly $600 billion in
Banking industry
The Chicago banking industry is experiencing a talent shortage, despite rapid consolidation and the prospect of layoffs, as top executives and skilled professionals are in high demand. Banks are competing aggressively to attract and retain top talent, offering premiums and bonuses to secure a rare commodity: loan officers with experience
Banking industry
Foreign investors are taking advantage of the meltdown in Japan's financial markets, snapping up lending and structured finance businesses from beleaguered banks. The Long-Term Credit Bank of Japan (LTCB) has agreed to sell its aviation and shipping finance business to Deutsche VerkehrsBank for $1.57 billion, highlighting the
Banking industry
According to sources, including Microsoft CEO Bill Gates, a severe shortage of competent IT specialists is reaching an all-time high, threatening year 2000 compliance and system conversion timetables. The shortage not only affects software and hardware developers but also banks, which are struggling to find qualified IT staff to support
Banking industry
Standard & Poor's has affirmed its ratings on KeyCorp and its units after the company's acquisition of McDonald & Company Investments Inc. The acquisition, valued at $650 million, will be financed through an exchange of stock and will enhance KeyCorp's investment banking and capital
Banking industry
The Norwest Corporation and Wells Fargo & Company announced a $34 billion merger deal yesterday, creating a giant banking franchise with $191 billion in assets. This move is part of a trend of blockbuster unions in the banking industry driven by stalled revenue growth and increased competition from mutual funds,
Banking industry
In a significant move to ensure business continuation and protect its mission-critical data, Branch Banking & Trust (BB&T) has selected a remote tape vaulting application from Computer Network Technology Corp. (CNT) to safeguard its data at the company's operations center in Wilson, N.C. The CNT
Banking industry
Bank of Ireland is considering a bid to acquire Birmingham Midshires Building Society, with reports suggesting a proposal could be submitted as early as next week. The move comes just days after the society was released from a £630m offer from Royal Bank of Scotland. Bank of Ireland has stated
Banking industry
Halifax Bank's acquisition bid for the Birmingham Midshires Building Society has been rekindled, with talks set to begin as early as this week. This development follows the society's successful extrication from its earlier £630 million deal with the Royal Bank of Scotland. Halifax has made a
Banking industry
Various industries are facing critical moments in the United States, ranging from banking and retail to automakers. This tumultuous period has brought significant announcements and developments across multiple sectors. Charlotte-based NationsBank has been in the news following reports of a grand jury investigation into its securities sales practices. The company
Banking industry
As the industry-shaking merger between NationsBank and BankAmerica nears completion in October, significant changes in leadership are underway. Alex Sink, who previously led NationsBank Florida, will regain the top post in the state, as Gene Taylor heads west to San Francisco to run the West region of the new institution.
Banking industry
The New Jersey Assembly has approved a bill to ban state investments in Swiss banks or financial institutions unless they cooperate in returning assets to the families of Holocaust victims. Despite objections from the United States State Department, the measure was approved unanimously and would make New Jersey the first
