JPMorgan Chase Pledges $30 Million to Support HBCUs
In an effort to help students achieve success in their careers, JPMorgan Chase has announced it will provide $30 million to historically Black colleges and universities (HBCUs). The five-year pledge enhances the bank’s 2019 plan, Advancing Black Pathways (ABP)...
Goldman Sachs Begins Trading Ethereum Derivatives
Amidst a declining cryptocurrency market, investment bank Goldman Sachs began trading a derivative asset linked to the second-largest cryptocurrency, Ether (ETH). The move marks the first time the bank has traded in crypto, signifying faith in the market, which has fallen to six-month lows recently...
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Credit Suisse Extends Losing Streak
Citing Russia’s invasion of Ukraine and significant monetary tightening, Swiss bank Credit Suisse said it expects to suffer a second-quarter loss, a sign that the firm’s recent volatility is likely to continue. Costly scandals and ousters led to management changes and restructuring during the past year...
Global Crises Cause UBS to Change Its Plans
Global uncertainty following a trifecta of crises is keeping wealth clients in a holding pattern, UBS Group AG Chief Executive Officer Ralph Hamers told Bloomberg News. “We had to digest 3 major shocks: the pandemic shock, the war shock, and the energy transition shock,” Hamers said...
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Goldman Pushes for Immigration Boost to Increase Labor Force
Decreased immigration has led to increased job openings in the U.S. that cannot be filled, but the gap between available workers and open positions can be reversed, unnamed Goldman Sachs analysts told Yahoo! Finance. Increasing immigration, they said, is the logical answer...
A Wells Fargo Whistleblower Divulges Fake Interviews With Minorities
A former Wells Fargo wealth management executive has accused the bank of holding fake interviews with black and female candidates, having already filled the positions with other applicants, The New York Times reported earlier this month. Joe Bruno, 58, says that he was instructed to interview minority candidates for lower-paying (under $100,000 per year)...
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JPMorgan Chase Attendance Tracking Tempts Potential Downside
Following reports last month describing JPMorgan Chase’s tracking of employees’ attendance, workplace experts say the tactics could be short-sighted. Four anonymous bankers told Business Insider in April that managing and executive directors were monitoring swipes of ID badges used to enter buildings, the data from which is used to enforce post-COVID back-to-work quotas...
Climate Activists Go After Bank Shareholders
To get big banks out of fossil fuels, climate change activists are making a bold move and taking aim directly at shareholders. Citigroup, Wells Fargo, Bank of America, and Goldman Sachs shareholders voted in late April on resolutions against further financing for fossil fuel projects...
Goldman Sachs Post-Pandemic Attendance Creeps Back, Slowly
Goldman Sachs employees are slowly returning to the office, though attendance is nearly 30% lower than it was before the COVID-19 pandemic, the investment bank’s Chief Executive Officer David Solomon told CNBC. Current attendance rates sit between 50% and 60% in the U.S., compared to a pre-COVID rate of 80%, Solomon said...
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Bank of America Execs Remain Bullish After First-Quarter Profit Loss
With Bank of America’s first-quarter profit loss less than expected, executives are maintaining a bullish outlook heading into spring. "Could a slowdown in the economy happen? Perhaps. But right now, the size of the economy is bigger than pre-pandemic levels...
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Hertz Appoints Scott M. Haralson as Chief Financial Officer
Hertz Global Holdings, a prominent global rental car company, has announced the appointment of Scott M. Haralson as Chief Financial Officer. "His deep expertise in financial management and leveraging the capital markets to drive business transformation will be invaluable to Hertz as we rotate our fleet, deliver operational excellence, build greater cost discipline and undertake other key initiatives to improve our financial performance", stated Hertz CEO Gil West...
Navan Appoints Amy Butte as Chief Financial Officer
Navan, the comprehensive super app simplifying travel and expense management, announced the appointment of Amy Butte as Chief Financial Officer effective June, 2024. Butte, who joined Navan's Board of Directors in April 2024, has resigned from her role as Audit Committee Chair to assume this executive position...