Thursday, December 19

Tag: CFG

First Republic Crashed and Burned. This Bank Wants to Copy Its Business.
26Nov By adminNo Comments
World

First Republic Crashed and Burned. This Bank Wants to Copy Its Business.

Regional lender Citizens Financial Group opened a new private bank for wealthy customers last month. Its inspiration: First Republic Bank, which collapsed earlier this year in the second-largest bank failure in history. Citizens, based in Providence, R.I., is spending tens of millions of dollars hiring former First Republic staffers. It hopes the strategy will help it crack a market it has long coveted. Executives say they plan to copy only the good parts of First Republic, such as its beloved customer service. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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First Republic Crashed and Burned. This Bank Wants to Copy Its Business.
26Nov By adminNo Comments
Money

First Republic Crashed and Burned. This Bank Wants to Copy Its Business.

Regional lender Citizens Financial Group opened a new private bank for wealthy customers last month. Its inspiration: First Republic Bank, which collapsed earlier this year in the second-largest bank failure in history. Citizens, based in Providence, R.I., is spending tens of millions of dollars hiring former First Republic staffers. It hopes the strategy will help it crack a market it has long coveted. Executives say they plan to copy only the good parts of First Republic, such as its beloved customer service. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Banks Load Up on $1.2 Trillion in Risky ‘Hot’ Deposits
12Sep By adminNo Comments
Money

Banks Load Up on $1.2 Trillion in Risky ‘Hot’ Deposits

Updated Sept. 12, 2023 5:49 pm ETListen to article(2 minutes)At midyear, Zions Bancorp reported holding $8.5 billion in brokered deposits, an obscure but costly banking industry product that is drawing attention from regulators. At this time last year, the Salt Lake City-based bank had practically none.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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