Daily business news in New York
On Sunday, March 12, 2023, the New York State Department of Financial Services (DFS) took possession of NY-based Signature Bank in order to protect depositors. All depositors will be able to access and withdraw their funds. Signature Bank was a leading bank for the crypto industry along with law firms in New York City and the […]
NEW YORK — British bank Barclays has announced the appointment of 85 new Managing Directors within the Corporate and Investment Bank, effective 1 January 2023. The 2023 class is comprised of individuals who have each consistently helped clients navigate this year’s unprecedented societal and economic challenges to deliver results. Paul Compton, Global Head of the […]
NEW YORK — American Express has launched American Express Rewards Checking, the company’s first all-digital consumer checking account, currently available for eligible U.S. Consumer Card Members. Amex Rewards Checking offers a range of benefits, including Membership Rewards points for eligible Debit Card purchases, an annual percentage yield (APY) rate that is 10 times higher than […]
NEW YORK — Money, Power, Prestige! Goldman Sachs, one of the top banking firms in the world, has announced its largest class of managing directors. A total of 643 individuals across 45 offices have been invited to become managing directors as of January 1, 2022. Becoming managing director is one of the biggest achievements for […]
NEW YORK — Citi has opened a new flagship branch featuring a state-of-the-art Client Center in New York City’s Tribeca neighborhood at the company’s heaquarters at 388-390 Greenwich St. The unique 7,000-square foot concept space can easily transform in configuration and shape to help customers craft experiences ranging from the most public to the most […]
American Express is partnering with Extend, a New York City-based financial technology firm specializing in virtual cards, to expand virtual Card solutions for U.S. businesses. U.S. companies with an eligible American Express Business Card can now enroll and create virtual Cards, also known as tokens, through Extend’s app or desktop login in as little as […]
NEW YORK –– Investment bank Morgan Stanley is teaming up with Microsoft Corp. on a strategic cloud partnership aimed at accelerating the firm’s digital transformation and shaping the future of innovation in the financial services industry. The companies will strike a unique collaboration to unlock the opportunities that Microsoft’s cloud provides with a specific view […]
Bank of America, one of the nation’s largest banking companies, has named Jose Tavarez (photo above) as President of Bank of America New York City and Westchester County. As New York City President, Tavarez will be responsible for connecting the banking and investment resources offered through the bank’s eight lines of business to individuals, families […]
BUFFALO — M&T Bank is building a collaborative workspace inside the Tech Hub at Seneca One, marking the completion of construction at the now-transformed downtown Buffalo landmark, the tallest privately-owned building in the state outside of New York City (photo above). The company plans to create over 1,000 jobs at the location, where it invested nearly $58 […]
NEW YORK — Current, an online bank with offices in SoHo, announced it has raised $131 million in Series C funding. New investor Tiger Global Management led the round for the mobile bank, which has now raised over $180 million in total funding and has a valuation of $750 million. Tiger Global was joined by new investors Sapphire Ventures and […]