#banking

Big changes in merrill banking. Word on the street is no more banking quotas monthly for 2026. The new scorecard is radically different suggesting concern over the pressure to open more and more and more accounts. Now the bankers are judged solely on risk and accuracy.
Looks like some freedom fighter took the charge to the Bull, and a RIGHT hook from the disgruntled base connected

Does anyone understand what’s changing? I don’t get it…….

Fifth Third Bancorp will close 75 Michigan locations. This action follows the company's acquisition of Comerica. Layoffs are expected, but the company prioritizes moving staff to other roles. The closures and brand transition are scheduled for Labor Day weekend. An earlier notice indicated 502 layoffs at a separate Comerica campus.

https://www.woodtv.com/news/michigan/fifth-third-leader-some-layoffs-likely-as-75-michigan-branches-close-but-situation-fluid/

Truist su-ks

Just read on a local news website that the 800 bldg downtown STL will be going up for auction next month (June). With all the RTO mandates it will be interesting to see if the bank will purchase the building not knowing whomever buys that building has different plans with that property that could potentially displace BOA altogether in that building. I hope not because I will WFH if that happens and not relocate to another location which I currently commute 2hrs already RT.

Does anyone know what BNY provide as way of a reference to a new employer, specifically in EMEA.

Nothing to hide just curious if they go any further than 'time served'.

its all going away.

Just read this…. That is all I’m going to say.

https://nypost.com/2026/05/21/business/jamie-dimon-says-jpmorgan-will-hire-more-ai-braniacs-fewer-bankers/

"...we don't have large scale layoffs planned." - Gunjan Kedia, 4/22/2026

Just "small scale" layoffs, huh?

Always subtext, always a spin, may they all rot.

Without the financial support of the rest of the organization, the bank would have ceased several years ago. This goes all the way back to General Joe, when the growth of the bank should have resulted in changes that were left ignored, resulting in the start of the consent orders. Then, through total mismanagement, the consent orders still remain after 6 years. Several large banks and insurance companies operate under a legacy IT structure even now, with all the downsides to that model. The bright idea of devolving back to that model here will undoubtedly ki-l the patient

Can the bank afford another bonus for Charlie? Can Charlie survive without it?

Arthur Hayes spoke at Consensus Miami. He is the BitMEX co-founder and Maelstrom CIO. Hayes predicted AI-driven layoffs could cause a banking crisis. He believes Bitcoin is already reflecting this potential crisis. Hayes also shared his BTC price target and Hyperliquid conviction.

https://finance.yahoo.com/video/arthur-hayes-says-ai-layoffs-171456843.html

PNC Bank retains key leadership as 777 FirstBank employees face summer layoffs

Of the 777 FirstBank employees at 12345 West Colfax Ave. who will be laid off beginning on June 30, the company’s market presidents will not be among them.

https://www.bizjournals.com/denver/news/2026/05/14/pnc-keeping-firstbank-presidents-amid-layoffs.html

Anyone know if memorial holiday Day week will be tracked?

https://share.google/8GK5V3V463T8v147p

Fifth Third Bancorp plans a mass layoff. It will affect 502 workers. These employees are at a former Comerica campus. The campus is located in Farmington Hills, Michigan. Fifth Third acquired Comerica Bank three months ago.

Farmington Hills, Michigan

https://www.freep.com/story/money/business/2026/05/08/fifth-third-layoffs-metro-detroit-former-comerica-site/89997647007/

Fifth Third Bancorp has notified the state of Michigan that it plans to lay off 502 workers at what was Comerica's Great Lakes Campus at 36455 Corporate Drive in Farmington Hills. The campus is relatively new and opened in 2024, and Fifth Third says it is committed to keeping it open.

https://www.freep.com/story/money/business/2026/05/08/fifth-third-layoffs-metro-detroit-former-comerica-site/89997647007/

Asking for a friend

https://www.cheapism.com/americas-worst-banks-according-to-customers/

#9

The Culture Architects
“RV builds the narrative. You become the headcount reduction that funds it.

Check it out:

https://imgur.com/a/batman-robin-eKZocZp

Layoffs happened in RCO. Any impacts anywhere else?

Work at a different bank and curious how your RTO5 (return to office 5 days a week) is going? Are people doing it? Coming in late/leaving early? Any modifications or messages from sr. Execs? Thanks for any info.

We are back to pushing new accounts for anyone that walks into the branches. “Leadership” is pushing for anyone that walks to leave with new credit card, new savings account , new checking accounts, mortgage and investment referrals without asking the customer their true needs. Back to the old culture as if it ever left.

If the bank asked you to come back, same pay, same position, as if you never left, would you do it?

https://www.bankingdive.com/news/trump-calls-out-wells-fargo-banks-over-la-fire-response/818457/

President Donald Trump alleged Thursday that banks did not “step up to the plate” to help people affected by wildfires in Los Angeles last year, and singled out Wells Fargo as being “very difficult to deal with.”

Donald thinks WF is difficult to deal with?!?!?!? Try working for them!!!!!

Couldn't happen to a better company though, really. Maybe Donny does a Godzilla stomp on WF.

FIS Sale with help from KPMG
https://www.linkedin.com/jobs/view/4397200392/
KPMG is currently seeking a Director, Banking and Payments IT M&A – Due Diligence, Integration and Separation – Strategy to join our KPMG Strategy practice.
Responsibilities:
Lead and oversee comprehensive Buy-Side and Sell-Sideassessments across critical IT domains for potential client acquisitions, witha focus on banking / payments platforms and ecosystems; identify key IT risks,opportunities, and investments needed, and deliver executive-level duediligence reports with strategic recommendations
Direct IT integration andseparation initiatives from planning through execution for banking andpayments-related transactions, including retail and commercial banking,merchant acquiring, issuing, processing, and digital payments capabilities;oversee development of IT current state assessments, entanglementidentification, operating model definitions, synergies, and Day one andpost-close plans. Platforms include Fiserv, FIS, Thought Machine and understanding of the data landscape in banking (e.g., Customer360, familiarity with key data platforms such as Snowflake, Databricks etc.)
Develop and executego-to-market strategies for Technology Mergers and Acquisitions offerings focused on payments,fintech enablement, platform modernization, and ecosystem integration; providethought leadership on banking and payments technology architectures, includingcard networks, core banking platforms, fraud platforms, and modern cloud-nativebanking /payment stacks
Establish and manage program governance frameworks,ensuring rigorous oversight of execution across complex, multi-vendor paymentsenvironments; lead development of governance work products including statusreporting, risk management, and issue tracking; implement AI-powered tools forpredictive analytics on project timelines and risks and collaborate with seniorcross-functional teams to identify technology dependencies, risks, andopportunities across payments operations, product, risk, and compliancefunctions
Lead strategic discussions andpresentations with executive IT and business stakeholders, including CIOs,CTOs, and payments product leaders
Manage efforts to mentor and develop junior staff, fosteringdeep payments technology expertise, delivery excellence across the team, anda culture of innovation with a focus on leveraging AI and other emergingtechnologies
Act with integrity, professionalism, and personal responsibility to uphold KPMG's respectful and courteous work environment
Qualifications:
Minimum eight years of recent experience in technology/businessconsulting and/or technology leadership, with a proven track record of leadingIT transformations and advising on complex Mergers and Acquisitions transactions
Master's of Business Administration degree from an accredited college or university is preferred; Minimum of a Bachelor's degree in Information Systems, Computer Science, Finance, or a related field is required
Demonstrated success in leading high-impact IT-focused Mergers and Acquisitions projects with expertise in at least three of the following: systemintegration/separation, platform migration, IT architecture modernization,outsourcing of IT operations, or regulatory technology implementation; advancedprogram management skills, with the capacity to oversee large, complex projectsand deliver strategic insights to executive audiences; familiaritywith leveraging AI-powered platforms for due diligence, synergy analysis, andintegration/separation planning is a significant plus
Proven track record leading complex technology Mergers and Acquisitions engagements (pre- and post-deal) within the Financial Services industry,covering banking / payments sectors; in-depth knowledge of the technology andregulatory landscape specific to Financial Services, including experience withcore banking/payments platforms and the IT implications of regulatory rules and changes
Comprehensive understanding of IT best practices andenterprise IT ecosystems, including major ERP and business applicationplatforms, IT solutions, systems, infrastructure, and cybersecurity
Strong strategic thinking and leadershipabilities with experience developing and executing IT strategies that alignwith business objectives; experience developing and executing go-to-marketstrategies incorporate AI-driven solutions and driving business growth in theM&A space, including client relationship management and engagement inbusiness development activities; proven ability to lead and mentorcross-functional teams

Ytd: WFC down almost 14%

Broader large financials: down 5.4%

Charlie Scharf, a banking legend only in his own mind. The growth is not materializing. I give him about 18 more months. Maybe he-l move to Chase when Dimon retires and f@&k them up too.

Why did WF pay?

Any news on the gigantic CCB reorganization? When is it going to be over? What are the goals?

The amount of people doing d-mb math trying to "calculate" a 60% in this forum is both hilarious and worrying. Maybe it's because of then we all have to go back in. Gotta micro manage their excel sheet formulas lol

Check out the news announcement today. Guess where even more of our jobs are going. Really puts the "US" in US Bank. Lol.
Maybe we've got a rebrand of the bank name coming next

How does it compare? I'm considering an offer, but their page on this forum is eerily similar to ours when it comes to issues. I'd just like to hear from somebody who's worked at both places.

I was just told that Rick Fleisher and Anne-Marie Pepi left suddenly yesterday. No word if it was voluntary or not. Anyone know why?

As a shareholder, in the latest proxy I voted against the executive compensation plan..

Engage Gunjan Kedia to implement a performance metric that requires employees to remain stationary at their desks, focusing solely on monitor interaction. Her approach has been met with derision from peers across various departments, including HR, Legal, Tech, and Payments. Her methodology has been criticized for promoting an outdated cultural perspective within a major U.S. Bank.

Didn't USAA have that capability previously with USAA Financial Centers? That concept didn't seem to work out well, so why is USAA revisiting a failed idea?

https://www.anthropic.com/glasswing

I can't imagine why. Oh that's right, because WF thinks CoPilot is good enough.

guarantee bny will do all this work and will get stiffed when it comes to getting paid by the administration

https://www.reddit.com/r/recruitinghell/s/pMBsDDfUjI

Can someone explain what they do? My friend applied for the “Branch Manager” program and said they would be working with a Market Leader. I always thought Branch Managers were Licensed Bankers,Tellers or Private Bankers that got promoted within the branch. They are now training them for months?