CHARLOTTE, NC and WOODBURY, NY — Ally Financial Inc. and CardWorks, Inc. have entered into a definitive agreement for CardWorks, and its wholly-owned bank subsidiary, Merrick Bank, to acquire Ally’s credit card business, including a portfolio of $2.3 billion in credit card receivables with 1.3 million active cardholders as of Dec. 31, 2024. “Ally’s decision…
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Webster Bank, a Connecticut-based bank with locations from New York to Massachusetts, has opened its newest Private Banking office in Garden City, Long Island, expanding its capabilities to wealth management clients in Nassau and Suffolk Counties. Currently, Webster has Private Banking offices in the New England corridor. “This is an…
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NEW YORK — JPMorgan Chase announced departures and promotions for several senior executives as it continues to build on its leadership positions across global financial services. Daniel Pinto, President and Chief Operating Officer, who has served the firm for more than 40 years, has informed Chairman and Chief Executive Officer…
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NEW YORK — Financial services firm Morgan Stanley has announced the appointment of 173 Managing Directors. The number of directors is 18 more than last year’s 155 selected. The new Managing Directors for 2025 are: Andrea Alberti Jon LeBoutillier Andrew Arena Ben L. Lee Emma Atkins Dick Lee Mona Benisi…
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Every two years, investment bank Goldman Sachs names its new partner class. This year, 95 individuals have been named partner — one of the most prestigious positions on Wall Street — beginning on January 1, 2025. This is the largest partner class ever at the firm. There were 80 chosen…
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HICKSVILLE, NY — Flagstar Bank, a subsidiary of New York Community Bancorp, Inc., announced it will cut 8% of its workforce as part of its strategic transformation plan, consistent with the business strategy outlined previously, and aimed at further integrating its three legacy banks that were united through acquisitions. Approximately…