Capital One Shakes Up Its Banking Division
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Capital One Financial, the largest independent U.S. credit-card issuer, promoted Lynn Pike to head its banking business, replacing former North Fork Bancorporation chief executive John Kanas as part of a management reshuffle.
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Credit card company Capital One Financial plans to eliminate 2,000 jobs, or about 6 percent of its workforce, as part of a $700 million restructuring, the company said yesterday.
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Bank One said Thursday that its chief economist is leaving the company, less than two months after it was purchased by JP Morgan Chase &amp; Co.
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They served up a giant Bank of America sheet cake, festooned the bank branch with balloons, and dispatched smiling greeters to welcome customers in upstate New York yesterday, as the first FleetBoston Financial Corp. branches formally switched to Bank of America.
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Nationwide, Britain's biggest mutually-owned bank, is to merge with smaller rival Portman, to create a new financial services group with more than 150 billion pounds (221 billion euros, 281 billion dollars) in assets.
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Capital One's time in purgatory may be near an end.
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By Carol Hazard  The Bank of Richmond is no longer of Richmond.  Yesterday, it became part of Gateway Financial Holdings Inc.
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Bank of America Corp. chief executive Kenneth D. Lewis, under pressure to explain recent job cuts made following the bank's $48 billion acquisition of FleetBoston Financial Corp. , yesterday said he will move one of the bank's four main divisions to Boston.
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The banking giant said it was scaling back its investment banking operations and shedding an additional 650 jobs.
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New "Check 21" rules may soon be changing how your bank serves you.
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Bank of America Corp. will move its Wealth and Investment Management division to its Boston offices. Of 10 senior executives that will be based in Boston, only two will come from Charlotte.
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Freddie Mac (FRE.N: Quote, Profile, Research) , the No. 2 US mortgage finance company, on Monday said it will restructure its securities and sales trading group as part of an effort to streamline its business operations.
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The largest U.S. bank plans to rebrand itself once a deal to sell the logo to St. Paul Travelers closes in March.
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Aug 19 - Over 1,500 bank tellers and other employees at Fleet bank branches across the US were given pink slips yesterday as Bank of America wraps up its $48 billion April 2004 merger with FleetBoston Financial, according to the Boston ...
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Credit Suisse First Boston, the securities arm of Switzerland&#39;s second-biggest bank, plans to cut costs by combining some units and eliminating jobs, people familiar with the matter said.
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First Direct customers struggle to access their online banking, as the firm overhauls its log in procedures.
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Morgan Stanley , the second-largest investment bank by market value, said on Tuesday it would spin off its Discover credit-card division and posted better-than-expected quarterly results on strong banking and trading.