Royal Bank of Canada is putting its leadership in the hands of David McKay, whose consumer-lending experience is a departure from the investment-banking background that propelled Gordon Nixon to chief executive officer 12 years ago.
Royal Bank of Canada said Chief Executive Officer Gordon Nixon will retire next year as the nation’s largest lender reported fiscal fourth-quarter profit that beat analysts’ estimates on gains in investment banking and consumer lending.
The largest U.S. mortgage servicers, including Citigroup Inc. and Bank of America Corp., must do more to improve handling of delinquent home loans, according to a court-appointed monitor overseeing an accord with the firms.
JPMorgan Chase & Co. and Goldman Sachs Group Inc., the world’s biggest trading firms, had their revised capital plans for 2013 cleared by the Federal Reserve yesterday, a month before next year’s submissions are required.
Nine months into her job as California attorney general, Kamala Harris found herself across the table from lawyers for five of the nation’s biggest lenders, trying to hammer out a deal to help mortgage holders weather the foreclosure crisis.
MBIA Inc. agreed to insure a $1.16 billion pool of mortgages without its employees reading a report the bond insurer now claims was altered to hide flaws in the loans, JPMorgan Chase & Co.’s lawyers told a judge.
A U.K. government adviser issued a scathing report on the business practices of Royal Bank of Scotland Plc. And now the government-controlled bank has hired a law firm to conduct its own investigation of itself, while the U.K. government prepares to investigate the bank even further.