Banks News

Morgan Stanley Partners With Microsoft for Cloud Transformation

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 […]

Banks

Bank of America Names Tavarez President of NYC Region

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 […]

Banks

M&T Bank to Create 1,000 Jobs at Buffalo Tech Hub

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 […]

Banks Funding

Online Bank Current Raises $131 Million

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 […]

Banks News

Goldman Sachs Names 60 New Partners

NEW YORK — Investment banking firm Goldman Sachs has named 60 employees to become partners effective January 1, 2021. Partners at Goldman Sachs are among the prestigious positions on Wall Street and come with a big boost in pay. The Partner Class of 2020 have more than 850 years of combined experience at Goldman Sachs, […]

Banks Funding

Payment Service Clair Lands $4.5 Million Seed Round

NEW YORK — Clair, an early stage fintech startup based in New York City, wants America’s 82 million hourly workers and 57 million gig workers to get paid instantly. Clair has raised a $4.5 million seed round led by Upfront Ventures, with participation from Founder Collective and Walkabout Ventures. Former Venmo COO Michael Vaughan and Seamless Founder Paul […]

Banks

M&T Bank Moving Branch Visits by Appointment Only

BUFFALO — To help safeguard the safety and well-being of its employees and customers, M&T Bank announced it will open lobbies  by appointment only effective Monday. As an essential business to the communities it serves, M&T Bank will keep its branches open for the foreseeable future with a modified service model in order to serve […]

Banks

Citi to Help Customers Affected by CoronaVirus

NEW YORK — Citi, one of the world’s largest banks, announced it will offer assistance to impacted customers of the CoronaVirus (COVID-19) in the U.S. through a range of measures, including fee waivers for Citibank customers, hardship programs, and additional small business support, such as extended banker availability. “This is a rapidly evolving situation and […]

Banks News

JPMorgan Chase CEO Undergoes Heart Surgery

NEW YORK — Jamie Dimon, CEO of JPMorgan Chase and one of the best known executives on Wall Street, underwent emergency heart surgery Thursday morning after experiencing chest pains. The 63-year old Dimon experienced an acute aortic dissection and doctors performed emergency heart surgery to repair the dissection. He is expected to make a full […]

Banks News

Ally Financial Buying Cardworks for $2.65 Billion

Ally Financial, a banking company that is a major provider of auto loans and operates online bank Ally, has agreed to buy CardWorks in a deal valued at approximately $2.65 billion. CardWorks is based in Woodbury, NY and is a privately held company with $4.7 billion in assets and $2.9 billion in deposits. Under the terms of the […]