Retail
KeyCorp taps City National, Fifth Third alum as strategy chief
KeyCorp announced on Monday the appointment of Chris Doll as Chief Strategy Officer and Deputy Chief Financial Officer, effective immediately. Doll will report to CFO Clark Khayat and join the financial leadership team and executive committee of the $191 billion-asset bank. Previously, Doll served as Executive Vice President and CFO at City National Bank for nearly three years, and earlier spent 13 years at Fifth Third.
4 takeaways from Jes Staley’s Epstein testimony
The testimony of former JPMorgan executive Jes Staley at the House hearing was released on Wednesday. The testimony showed that he had advocated for keeping Epstein's account, shared confidential information with him, discussed Epstein with CEO Jamie Dimon, and may have informed him of the client's high-risk status.
Federal Reserve Orders Alabama's SouthPoint Bancshares to Submit Capital Plan
The Federal Reserve and Alabama banking regulators took action against SouthPoint Bancshares, requiring it to submit a capital plan and cash flow projections within 60 days to strengthen the financial position of its subsidiary, SouthPoint Bank. The bank was previously subject to an FDIC consent order due to credit risk management issues.
Veritex Alum Jeff Kesler Scouting Additional Texas Bank Deals After Palmer Acquisition
Future Financial Bankshares, led by former Veritex executive Jeff Kesler, announced July 17 an agreement to acquire Palmer Bancshares and its subsidiary Commercial State Bank. Kesler, who helped Veritex complete seven bank deals in 15 years, is now scouting additional Texas targets, focusing on family-owned banks under $1 billion in assets near Dallas/Fort Worth. The company is raising $30 million and expects to close the Palmer deal Jan. 1.
Bank of America to Acquire Up to 49.9% Stake in Jio Credit for $1.9 Billion
Bank of America announced a joint venture agreement to acquire up to 49.9% of Jio Credit Limited for approximately $1.9 billion, with an initial 26.5% equity stake that could rise upon warrant exercise. The deal underscores confidence in India's growth and aims to enhance digital credit delivery.
Sezzle shifts strategy, opts for national bank charter over ILC
Sezzle will apply for a national bank charter with the Office of the Comptroller of the Currency, reversing its earlier plan to become an industrial loan company. CEO Charlie Youakim cited new state-level BNPL rules and political risks as key factors. The company also launched Sezzle Send and SezzleCash, with a checking account product on hold until the bank charter is secured.
Regions Bank Appoints Kate Danella as Next Chief Administrative Officer
Regions Financial announced Tuesday that Kate Danella, head of consumer banking, will become chief administrative officer, succeeding Dave Keenan, who retires at year-end. John Jordan will take over consumer banking; Angela Santone will report to CEO John Turner. Changes effective Sept. 1.