Wells Fargo continues recruiting run with $1.6B AUM UBS team
Fresh off its recruitment of a big advisory practice from Morgan Stanely, Wells Fargo has picked up a 14-person team with more than $1 billion under management from UBS.
https://www.financial-planning.com/news/wells-fargo-continues-recruiting-run-with-1-6b-aum-ubs-team
State AGs target e-cigarette payments
Attorneys general across the U.S. have alerted payments providers that online tobacco and nicotine sales likely violate state and federal laws.
https://www.paymentsdive.com/news/state-ags-target-e-cigarette-payments/819201/
How Wells Fargo deploys #AI in payments
Wells Fargo's AI platform is designed to be model and cloud agnostic, allowing the bank to adapt to newer, larger and more specific models as they emerge.
https://www.americanbanker.com/payments/news/how-wells-fargo-deploys-ai-in-payments
Virginia bank eyes growth after ending feud with large borrower
Carter operates 13 branches in North Carolina, along with a loan production office in Greenville, South Carolina.
https://www.americanbanker.com/news/virginia-bank-eyes-growth-after-ending-feud-with-large-borrower
Carter Bankshares wants to widen its footprint in the Carolinas and may look to buy a bank, especially in South Carolina, where it set up a loan production office in November. The Virginia bank recently resolved a long-running dispute with a major commercial borrower.
Amex to sell travel unit stake for $1.5B
The card company is divesting its nearly one-third ownership of the corporate travel services firm Global Business Travel Group.
https://www.paymentsdive.com/news/amex-to-sell-travel-unit-stake-for-15b/819255/
PayPal reports first earnings under new CEO
New PayPal CEO Enrique Lores elaborated on his new strategy for the payments company through its quarterly earnings report and presentation.
https://www.americanbanker.com/payments/news/paypal-reports-first-earnings-under-new-ceo
How Spirit Airlines customers can navigate payments
One consumer advocacy group is urging the airline’s customers to seek refunds “quickly” after the carrier’s abrupt shutdown.
https://www.paymentsdive.com/news/how-spirit-airlines-customers-can-navigate-payments/819328/
How banks reach for the 'top of the wallet'
"The bank is the plumbing," Barclays' Anuj Arora said. "If you do a bad job there, you are going to lose the customer. How easy are you making it for the customer?"
Neobanks are winning the primary relationship through engagement.
They show up where customers actually manage money. Many FIs still center on accounts and transactions, they hold deposits but not influence.
https://www.cunastrategicservices.com/content/how-neobanks-are-winning-your-best-members
Florida’s BayFirst makes a switch at CEO
The bank named Tampa banking veteran Al Rogers as its top executive amid an $80 million capital raise and a reinforced commitment to community banking.
Alex Jimenez
