Why a target school really matters when applying to banking internships
The Importance of Target Schools in Banking Careers If you’re interested in pursuing a career in banking, you’ve likely come across the concept of “target schools” that banks prefer to hire from. But what exactly does this mean and how does it impact your chances of securing a job in the industry? Insider Insights from […]
Wells Fargo indie channel picks up $1.7B UBS team
Wells Fargo Continues Recruiting Success In another recruiting victory for Wells Fargo, a seven-advisor team has made the move from UBS to join the firm. Snow Pine Private Wealth, previously managing $1.7 billion at UBS, has now joined Wells Fargo in Wayzata, Minnesota, just west of Minneapolis. Meet the Snow Pine Private Wealth Team The […]
Kraken first crypto bank to get ‘skinny’ Fed master account
Kraken Financial Approved for Limited-Purpose Master Account by Kansas City Fed The Federal Reserve Bank of Kansas City recently made a landmark decision by approving a limited-purpose master account for Kraken Financial. This approval allows the cryptocurrency exchange to directly access the central bank’s payment network, making Kraken the first digital asset bank to do […]
Newity on the hunt for new bank partners
Newity Expands Lending Capacity for Community Banks with AI Technology Lending service provider, Newity, which played a significant role in transforming Northeast Bank into one of the leading Small Business Administration (SBA) lenders in the country, is utilizing an $11 million venture capital investment to broaden its platform. The Chicago-based company received the funding from […]
Kraken receives Fed master account, in a first for crypto
Kraken Receives Federal Reserve Master Account Approval Kraken, a prominent cryptocurrency firm, made history on Wednesday as it was granted a master account by the Federal Reserve Bank of Kansas City. This milestone signifies the first time a cryptocurrency company has gained access to the central bank’s payment system. Payward Ventures, operating as Kraken Financial […]
Cyberattack on client data lands Mercer in federal lawsuit
Recent Data Breach at Mercer Advisors Leads to Class-Action Lawsuit A data breach last month has landed Mercer Advisors in court with a putative class-action suit that contends the prolific RIA acquirer failed to adequately protect private client data. Details of the Lawsuit Paul Berger of Washington, D.C. sued Mercer in the U.S. District Court […]
Zerohash is latest crypto firm to apply for a trust charter
Zerohash, a Digital Asset Infrastructure Provider, Applies for National Trust Bank Charter In a significant development in the digital asset sphere, Zerohash has announced its application for a national trust bank charter. The move comes as the latest in a long line of attempts by crypto firms to secure trust charters from federal regulators, signaling […]
Capital One schedules further layoffs at Discover HQ
Capital One Announces Further Layoffs at Discover’s Chicago Offices Capital One Financial has recently informed Illinois state officials about additional layoffs at the offices of Discover Financial Services in the Chicago area. This comes on the heels of Capital One Financial’s acquisition of Discover Financial Services last year for a reported $35.3bn. Image credit: Tada […]
Bank Regulatory, Counsel – Vice President
SMBC Group: A Global Financial Powerhouse Sumitomo Mitsui Banking Corporation (SMBC) Group is a top-tier global financial group with a rich history spanning 400 years. Headquartered in Tokyo, SMBC Group offers a diverse array of financial services, including banking, leasing, securities, credit cards, and consumer finance. The group operates in nearly 40 countries worldwide, boasting […]
Bank Australia on cusp of ‘Significant Financial Institution’
Bank Australia: A Transition to a Significant Financial Institution Bank Australia, with its ambitious growth plans, is currently navigating a transformative phase. The bank is transitioning towards being designated as a Significant Financial Institution by the Australian Prudential Regulation Authority (APRA). Ambitious Post-Merger Integration for Future Growth An interesting insight into the bank’s ambitious plans […]