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Banks trim fat to focus on core business.(consolidation)(Brief article)
Many of today's largest banks are looking to step out of the mutual fund game that they once rushed into, preferring to focus on the core business of commercial banking. Citigroup last year unloaded its Citi Asset Management division to Legg Mason and Michigan-based bank Comerica is reportedly looking to sell its Munder Capital Management division. According to Peter Cummings, Chief Operating Officer of Opera Solutions, a managerial consulting firm, the financial industry's consolidation and the size of the major players has left these large ...
- Pacific Mercantile Bank to Exit the Wholesale Mortgage Banking Business in...
- Press release article from: Business Wire June 27, 2005 700+ words
...expanding its successful commercial banking business. The Bank is...an integral part of its commercial banking business, will continue...resources into our successful core business, commercial banking, and the continued growth...
- Wachovia Names Mark Smith Commercial Banking Executive for Pennsylvania/...
- Press release article from: PR Newswire December 12, 2005 700+ words
...has named Mark Smith the commercial banking executive for the Pennsylvania...developing and implementing commercial banking strategies in the region...Region CEO for Wachovia. "Commercial Banking is a core business for Wachovia and, under...
- State Street Completes Sale of Commercial Banking Business; Underscores...
- Press release article from: Business Wire October 4, 1999 700+ words
...commercial banks." The commercial banking business, consisting...decision to divest our commercial banking business in order...Focusing on our core business will help State...State Street's commercial banking business loans averaged...
- Ping An Creates a Single Brand for Its Commercial Banking Business.
- Press release article from: Business Wire February 16, 2007 700+ words
...unify branding identities of its commercial banking operations. The agreements are...integrate management systems of its commercial banking operations in an effort to develop its commercial banking business under a single brand name...
- Nedcor Delivers Good Performance In Volatile Markets; * Strong core business...
- Press release article from: PR Newswire July 30, 2002 700+ words
...achieved excellent growth of 95% to R209m (2001 - R107m) on strong performances from Nedbank and Peoples Bank. Commercial banking grew well by 20% to R416m (2001 - R348m) with good contributions from Nedbank, Imperial Bank and Cape of Good...
- Republic First Bancorp, Inc. Third Quarter 2001 Results Reflect Core Business...
- Press release article from: PR Newswire October 19, 2001 700+ words
...basis points over the past twelve months. Expenses have increased as a result of a continued expansion of the commercial banking group and operational support for new products and services. "We are now realizing returns on the investments...
- Republic First Bancorp, Inc. Second Quarter 2001 Operating Results Reflect Core...
- Press release article from: PR Newswire July 20, 2001 700+ words
...An increased expense base also contributed to the decrease in earnings reflecting a continued expansion of the commercial banking group, including a senior credit manager and cash management relationship officer. "These investments in human...
- Capital One Bank Adds New York Real Estate Banking Veteran Bill McCahill to...
- Newspaper article from: Real Estate Weekly News October 16, 2009 700+ words
...to Rick Lyon, Executive Vice President of Capital One Bank's Commercial Real Estate business, one of Capital One's core business units. A seasoned and respected banker for nearly four decades, McCahill has been the driving force behind many of the...
Source: HighBeam Research, Banks trim fat to focus on core business.(consolidation)(Brief...