Latest news with #commercialbanking
Associated Press
21-05-2025
- Business
- Associated Press
Tim Juliano Joins Peapack Private Bank & Trust
BEDMINSTER, NJ - May 21, 2025 ( NEWMEDIAWIRE ) - Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack Private Bank & Trust announce that Tim Juliano has joined the Bank's commercial banking division as a Senior Managing Director based out of its growing Melville, New York location. Tim will lead a team of relationship managers as a group director, responsible for growing Peapack Private's presence on Long Island. With more than 37 years of commercial banking experience, Tim joins from Flagstar Bank where as a senior vice president and managing group director, he was responsible for the overall management of team activities in business development, relationship management and day to day servicing of an existing portfolio of middle market clients, and a portfolio of over 50 relationships, with a peak of $440 million in deposits and $350 million in credit commitments. Prior to Flagstar, he held similar senior leadership level roles at Dime Community Bank, Sterling National Bank, and Capital One Bank. Earlier in his career he was a vice president and finance manager in business financial services with Merrill Lynch. His banking career began with roles at Manufacturers Hanover Trust, Chemical Bank and Chase Manhattan Bank (via mergers), where he was a relationship manager in the business banking space. An ex-captain with the Hauppauge Volunteer Fire Department, Tim has a Bachelor of Arts in economics from the State University of New York Stony Brook. About the Company Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with total assets of $7.1 billion and assets under management and/or administration of $11.8 billion as of March 31, 2025. Founded in 1921, Peapack Private Bank & Trust is a commercial bank that offers a client-centric approach to banking, providing high-quality products along with customized and innovative wealth management, investment banking, commercial and personal banking solutions. The Bank's wealth management division offers comprehensive financial, tax, fiduciary and investment advice and solutions to individuals, families, privately held businesses, family offices and not-for-profit organizations, which help them to establish, maintain and expand their legacy. Peapack Private Bank & Trust offers an unparalleled commitment to client service. Visit for more information. Contact: Denise Pace-Sanders, Peapack Private Bank & Trust, SVP Managing Principal, Brand and Marketing Director, 500 Hills Drive, Suite 300, Bedminster, NJ 07921, [email protected], (908) 470-3322 View the original release on
Bloomberg
19-05-2025
- Business
- Bloomberg
JPMorgan Sees Investment-Banking Fees Falling in Mid-Teens Range
JPMorgan Chase & Co. 's second-quarter investment-banking fees could decline by more than analysts are expecting as volatility set off by President Donald Trump's policy announcements continues to chill deals. Troy Rohrbaugh, co-CEO at JPMorgan's commercial and investment bank, said it expects investment banking fees to fall by a percentage in the mid-teens compared to a year ago — more than analysts had predicted.
Yahoo
19-05-2025
- Business
- Yahoo
Santander UK freezes salaries and cuts jobs in commercial banking arm
Santander UK is freezing salaries, slashing bonuses and cutting jobs across its commercial banking arm as part of a wider shake-up that could help make the bank more attractive to potential buyers. The bank began unexpectedly changing bankers' job titles and shuffling staff into new teams earlier this month amid a larger review of the Spanish lender's UK business, where there is mounting frustration over regulations and costs. The moves, and the abrupt way they were communicated, have upset bankers, many of whom have been forced into teams where the pay ranges are up to 25% lower than before. While the bank cannot cut salaries, Santander has frozen the pay of staff who are now in lower pay brackets than previously. Email correspondence seen by the Guardian shows staff have also been warned over changes to their bonus schemes, which are expected to result in lower payouts. Meanwhile, employees from the bank's Santander Navigator arm have been put at risk of redundancy, only three years after the platform was launched with much fanfare as a 'one-stop shop for international trade'. Together the new pay measures and job cuts could affect up to 200 staff. It comes as Santander tries to find new areas to slash costs as it steels itself for a fallout of the growing car finance commission scandal, which analysts at RBC Capital say could cost the bank up to £1.9bn in compensation to its former borrowers. A leaner business could make the bank, which has about 14 million customers – more attractive to potential suitors. In January, it emerged that Santander UK could be put up for sale, although the Spanish owner has denied it is actively seeking to offload the lender. Banco Santander, the parent company, which is headquartered in Madrid, reportedly rejected an £11bn bid for its UK retail bank earlier this year for being too low, according to the Financial Times. The lower pay potential across the corporate and commercial bank will apply to new hires, and may mean that the UK bank, which is headquartered in Milton Keynes, will hire more staff outside London, where bankers may be ready to accept lower salaries. That includes staff in Santander's international and transaction banking department – which manages cross-border payments and trade – who are now being categorised as back office staff, traditionally paid less than client-facing peers. The Guardian also understands that the cuts have extended to extracurricular events, with the corporate and commercial bank's annual charity cricket day match, which usually takes place in June, having also been cancelled. Santander UK started slashing about 2,000 jobs last year, and in February announced it was looking at how further 'simplification and automation' of the business could 'help drive cost efficiencies in 2025'. In March the bank revealed it was closing 95 of its 444 high street branches in the UK and reducing services or hours at a further 50 sites, putting 750 jobs at risk. Commenting on the pay and job cuts, a spokesperson for Santander UK said: 'We are moving to a fairer, more transparent bonus structure across Santander UK, which will promote high performance at every level of the bank. We regularly review job data across the bank, and we annually agree salary increases with our recognised trade unions.' They said the bank was responding to an evolving banking environment 'driven by changing customer expectations', adding: 'We must have a dynamic approach to our operating model that ensures our teams are organised effectively to keep the customer at the heart of our business.' The bank said that involved launching Santander Navigator globally 'with a proposed new structure that will strengthen our 'Beyond Banking' offering to businesses who trade, or have ambitions to trade, internationally'. Santander's spokesperson also denied that the bank was looking to offload the UK business. 'As we have made clear, the UK is a core part of Santander's diversified business model and is not for sale.'
The Guardian
19-05-2025
- Business
- The Guardian
Santander UK freezes salaries and cuts jobs in commercial banking arm
Santander UK is freezing salaries, slashing bonuses and cutting jobs across its commercial banking arm as part of a wider shake-up that could help make the bank more attractive to potential buyers. The bank began unexpectedly changing bankers' job titles and shuffling staff into new teams earlier this month amid a larger review of the Spanish lender's UK business, where there is mounting frustration over regulations and costs. The moves, and the abrupt way they were communicated, have upset bankers, many of whom have been forced into teams where the pay ranges are up to 25% lower than before. While the bank cannot cut salaries, Santander has frozen the pay of staff who are now in lower pay brackets than previously. Email correspondence seen by the Guardian shows staff have also been warned over changes to their bonus schemes, which are expected to result in lower payouts. Meanwhile, employees from the bank's Santander Navigator arm have been put at risk of redundancy, only three years after the platform was launched with much fanfare as a 'one-stop shop for international trade'. Together the new pay measures and job cuts could affect up to 200 staff. It comes as Santander tries to find new areas to slash costs as it steels itself for a fallout of the growing car finance commission scandal, which analysts at RBC Capital say could cost the bank up to £1.9bn in compensation to its former borrowers. A leaner business could make the bank, which has about 14 million customers – more attractive to potential suitors. In January, it emerged that Santander UK could be put up for sale, although the Spanish owner has denied it is actively seeking to offload the lender. Banco Santander, the parent company, which is headquartered in Madrid, reportedly rejected an £11bn bid for its UK retail bank earlier this year for being too low, according to the Financial Times. The lower pay potential across the corporate and commercial bank will apply to new hires, and may mean that the UK bank, which is headquartered in Milton Keynes, will hire more staff outside London, where bankers may be ready to accept lower salaries. That includes staff in Santander's international and transaction banking department – which manages cross-border payments and trade – who are now being categorised as back office staff, traditionally paid less than client-facing peers. The Guardian also understands that the cuts have extended to extracurricular events, with the corporate and commercial bank's annual charity cricket day match, which usually takes place in June, having also been cancelled. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Santander UK started slashing about 2,000 jobs last year, and in February announced it was looking at how further 'simplification and automation' of the business could 'help drive cost efficiencies in 2025'. In March the bank revealed it was closing 95 of its 444 high street branches in the UK and reducing services or hours at a further 50 sites, putting 750 jobs at risk. Commenting on the pay and job cuts, a spokesperson for Santander UK said: 'We are moving to a fairer, more transparent bonus structure across Santander UK, which will promote high performance at every level of the bank. We regularly review job data across the bank, and we annually agree salary increases with our recognised trade unions.' They said the bank was responding to an evolving banking environment 'driven by changing customer expectations', adding: 'We must have a dynamic approach to our operating model that ensures our teams are organised effectively to keep the customer at the heart of our business.' The bank said that involved launching Santander Navigator globally 'with a proposed new structure that will strengthen our 'Beyond Banking' offering to businesses who trade, or have ambitions to trade, internationally'. Santander's spokesperson also denied that the bank was looking to offload the UK business. 'As we have made clear, the UK is a core part of Santander's diversified business model and is not for sale.'
Zawya
14-05-2025
- Business
- Zawya
GFH reports an increase of 11.05% in net profit attributable to shareholders for the first quarter of 2025 totaling US$30.14mln
Group Highlights for Q1 2025: Net profit up 11.05% to US$30.14 million, led by healthy growth in commercial banking and investment banking. Total assets grew 5.06% to US$11.59 billion, strengthening liquidity and capital base. Income from Treasury and proprietary income portfolio of US$62.62 million Income from sale of proprietary investment assets of US$22.93 million Share of profits from subsidiaries reported at US$17.63 million Customer onboarding to the GFH Investments App accelerated in Q1, supporting digital transformation and expanding investment opportunity access. Launch of an investment into a diversified US portfolio of strategically located industrial and transportation logistics assets, offering both core and value-add opportunities across sectors such as e-commerce, automotive and manufacturing. GFH Financial Group B.S.C ('GFH' or 'the Group') (Bahrain Bourse: GFH) today announced its financial results for the first quarter ('the quarter') of the period ended 31 March 2025. Net profit attributable to shareholders was US$30.14 million for the first quarter of 2025 compared to US$27.14 million in the same period last year, an increase of 11.05%. The increase is mainly attributed to contributions from the Group's investment banking, commercial banking and sale of proprietary investments. Earnings per share for the quarter was US cents 0.85 compared with US cents 0.77 in the first quarter of 2024. Total income attributable to shareholders was US$170.94 million for the first quarter of the year compared with US$162.97 million in the first quarter of 2024, an increase of 4.89%. Consolidated net profit for the first quarter attributable to shareholders was US$30.69 million compared with US$30.34 million in the first quarter of 2024, an increase of 1.15%. Total expenses for the quarter were US$89.44 million compared with US$89.18 million in the prior-year period, an increase of 0.30% Total equity attributable to shareholders was US$936.59 million at 31 March 2025 compared with US$980.93 million at 31 December 2024, a decrease of 4.52%, primarily due to dividend declaration for 2024. Total assets of the Group were US$11.59 billion at 31 March 2025 compared with US$11.03 billion at 31 December 2024, an increase of 5.06%. Currently, GFH manages over US$22.48 billion of assets and funds including a global portfolio of investments in logistics, healthcare, education and technology in the MENA region, Europe and North America. The Group's financial results in full can be found at Shares of GFH are traded under the ticker 'GFH' on the Abu Dhabi Securities Exchange, Bahrain Bourse, Boursa Kuwait and Dubai Financial Market. Business Unit Highlights The Group continued to deliver sound performance and contributions from across its core business lines during the first quarter of 2025. Investment Management: During the first quarter, the Group's investment banking activities generated US$47.0 million in income through various deals across the region and beyond. GFH Partners invested up to US$200 million in a diversified US portfolio of strategically located industrial and transportation logistics assets, offering both core and value-add opportunities across sectors such as e-commerce, automotive and manufacturing. GFH Partners upsized its US Student Housing Portfolio IV, an investment into student housing near universities, to US$120 million, reflecting strong investor demand. Commercial Banking: The Group's commercial banking business, Khaleeji Bank, contributed US$41.54 million in income during the first quarter. Treasury & Proprietary Investments: Contributions from the Group's treasury and proprietary investment activities is US$62.62 million. Income from proprietary investments amounted to US$22.93 million, which was the result of exit proceeds from MENA real estate. ESG and Digital Transformation Highlights The Group launched the new version of the GFH Investment App, powered by AI technology, which has contributed to accelerating the onboarding of clients and facilitating access to a wider range of investment opportunities in the Gulf region. In Q1 of 2025, GFH Financial Group continued to demonstrate a strong commitment to Environmental, Social, and Governance (ESG) principles through a series of impactful initiatives. One of the key highlights was GFH's role in promoting social inclusion by partnering with Bahrain Road Runners for the 'Ocean of Hope: Blue Colour Run', a community event dedicated to autism awareness. This initiative emphasised GFH's commitment to creating inclusive communities and supporting mental health awareness. About GFH Financial Group B.S.C. GFH Financial Group, licensed as an Islamic wholesale bank by the Central Bank of Bahrain and headquartered at GFH House, P.O. Box 10006, Manama Sea Front, Kingdom of Bahrain is one of the most recognised financial groups in the Gulf region. Its businesses include Investment Management, Treasury & Proprietary Investments, Commercial Banking and Real Estate Development. The Group's operations are principally focused across the GCC, North Africa and India, along with strategic investments in the U.S., Europe and U.K. GFH is listed on four stock exchanges in the GCC, including the Bahrain Bourse, Boursa Kuwait, Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) where it is one of the most liquid and actively traded stocks. For more information, please visit Media Contacts: GFH Financial Group Nawal Al-Naji Senior Manager- Corporate Communications Tel: +973 17538538 Email: nalnaji@
