Banking News

PNC Financial Services Group Inc. closed 200 branches footprint wide in 2013 and expects 25 "net" closures next year, spokesman Fred Solomon said.

JPMorgan Chase & Co CEO Jamie Dimon said on Wednesday he was thankful congressional leaders had reached a budget deal and was "less worried" about the impact of an eventual scaling back of the Federal Reserve 's market-friendly stimulus measures.

Citigroup Inc named Duncan Hennes, a co-founder of bank advisory firm Promontory Financial Group and a former CEO of Soros Fund Management , to its board of directors on Wednesday.

The firm currently has a "buy" rating on the stock. Bank of America Corp.'s target price points to a potential upside of 11.31% from the company's current price.

The results mark the third year in a row Bank of America has held the dubious distinction of being at the bottom of the American Customer Satisfaction Index.

Dexus Property Group and the Canada Pension Plan Investment Board raised their offer for the office fund controlled by Commonwealth Bank of Australia to A$3 billion , challenging GPT Group's bid.

John Stumpf, chairman, chief executive officer of Wells Fargo & Co., says the bank's culture allows top executives to raise concerns they may have about business practices.

Fourth-quarter capital markets and underwriting revenues this quarter are running slightly below results from a year ago, Citigroup Inc ( Year-ago results, against which the current quarter will be compared, were driven by exceptionally strong debt underwriting, said Gerspach, who spoke at a conference for investors held by Goldman Sachs Group Inc ... (more)

EU finance ministers on Tuesday edged towards a difficult compromise on a banking union they hope will prevent a repeat of crippling crises and inject new impetus into the economy The logo of the European currency Euro stands in front of the European Central Bank in Frankfurt, Germany.

The Bank of Montreal raised its five-year fixed closed mortgage rate to 5.44 per cent.

HSBC Holdings Plc is considering floating up to 30 per cent of its British retail and commercial banking arm to help meet UK regulation and unlock value for shareholders, the Financial Times said on Monday.

A research paper published by the National Bureau of Economic Research finds that investors bid up shares of a handful of financial firms after news leaked that Timothy Geithner would be nominated for the top post at Treasury in 2008 .

Bank of the Ozarks said Monday that it will purchase all the outstanding common stock of Bancshares in a deal estimated about about $23 million.

The U.S. labor force has been shrinking rapidly in recent years. Back in 2007, some 66 percent of working-age Americans had a job or were actively seeking one.

Kevin Talbot is co-founder and managing partner of Relay Ventures, an early-stage venture fund that describes its mission as "Strictly Mobile."

Most Wall Street firms have spent the past few years shedding businesses that clearly don't comply with Volcker, which is supposed to limit the banks' ability to make money on risky, in-house trading.

Deutsche Bank on Monday named 43-year-old Thomas Poppensieker as head of a new effort to tighten controls at Germany's flagship lender, reporting directly to co-Chief Executives Juergen Fitschen and Anshu Jain.

HSBC Holdings Plc is considering the flotation of up to 30 percent of its British retail and commercial banking arm, the Financial Times reported, a move that would help it cope with planned new rules that demand that British banks ringfence their retail arms.

The U.S. has said it will continue criminal probes of 14 banks, including Credit Suisse Group AG and Julius Baer Group Ltd., the nation's second- and third-largest wealth managers, while the rest of the industry is able to enter the voluntary program announced on Aug. 29, approved by the Swiss government.

As soon as this week, a quiet Bay Area economist could become one of the most powerful women in the world.