#banking

I've been here less than a year and have kept my head down but the sthe new WPE rollout, especially in GT, seems to be a reason to layoff. What happens at BofA when your time is up?

Bloomberg posted a story that citi execs are contemplating ways to grow deposits domestically through regional bank acquisitions. USB and TFc in play.

And yes. Aware that C “dismissed the baseless speculation “

How many operating council members and other “paper tiger” execs survive? Shouldn’t take long to figure out the incompetence.

Welcome to Truist, how many money market accounts can I sell to you today?

The articles that just came out about the rumors of Citi seeking to acquire a regional bank speculate about PNC and Truist but it will be USB. The McKinsey mafia will ensure Kedia has a role at the combined organization.

Does anyone know why there has been a push to get us using bank laptops to replace our HVDs?

Been glued to this site since the reorg announcement couple years back and it's just spiraling downwards. Total implosion is the only way to describe it. The culture and morale? Words fail me. Honestly, I'm starting to feel bummed that I haven't been laid off yet. I'd rather face starvation and homelessness than deal with this mess. Seriously considering quitting outright.
And I've got 20 years in the banking world under my belt, worked at multiple banks, but I've never seen anything this chaotic and awful. I'm actually surprised we haven't racked up more regulatory violations, but with the way things are going, it feels inevitable.
This past month has been beyond terrible. Almost everyone in my department has either been laid off, quit, or jumped ship to a new role.

https://www.businessinsider.com/bny-managers-teams-humans-agentic-ai-digital-employees-robin-vince-2026-3

Eighty-five workers are affected by job cuts. These cuts are at the San Jose headquarters. Dozens more workers are affected across the Bay Area. Layoffs will occur in two separate rounds. This is tied to a banking platform conversion.

San Jose, California

https://www.bizjournals.com/sanjose/news/2026/03/20/citizens-business-bank-layoffs-heritage-san-jose.html

Anyone know why the changes to time in office has been delayed? What date will the announcement go out and when will it be effective?

Thoughts on the wealth solutions restructure?

BoA just signed up to take over all of OBP, making current tenants of 600,000 SF subtenants of BoA i.e. no immediate big expansion but we went from 1.8m SF leased to 2.4m SF total so flex option for the future...perhaps this is to enable the full RTO ?

Worse place to work this bank treats their employees like trash.

This is my third bank. All are bad, but this one is the worst. I come across stuff that seems like a remnant from the previous century. With all that fancy management and hefty consultant fees, you'd think they would have streamlined some processes by now. AI would short-circuit trying to deal with this place.

151 laid off today. counting

Anyone get the official notice for the WPE changes yet via email? It was supposed to be this week.

Anyone else concerned about reporting to office with Iran threatening to attack US Banks?

with the 15th being a holiday will they sell on 3/16 or 3/13

this happened to me with Wells Fargo and I decided I had to break up with them after half my life banking with them. my conversation with customer service was hilarious though:
WF: can I ask why you're leaving us today? me: your interest rates are making me broke WF: I can totally understand that. let's continue with your cancellation

Does anyone know when the 2026 RSUs that were awarded will show in our benefits online account?

major multi thousand job cuts at morgan stanley and CITI... the job market just got exponentially worse for all of us in banking...

Morgan Stanley - March 2025 Layoffs Summary (some selected post)
https://www.thelayoff.com/t/1kjyfj53s
@OP+1kjyfj53s

CITI Layoffs
https://www.thelayoff.com/t/1kjyf4pkj
@OP+1kjyf4pkj

Today, big layoffs were announced at Citibank & Morgan Stanley. USAA.....

https://nypost.com/2026/03/04/business/ardith-lindsey-suing-citigroup-slams-firms-investigations-unit-as-internal-hit-squad/

https://www.advisorhub.com/layoffs-hit-citi-jpmorgan-wells-fargo-and-lpl/

Layoffs 20% in next 3 months.

The largest employee migration in Bank of America Company’s history has begun following the February bonus and 401(k) contributions. While some employees are waiting until the end of March for their RSUs to vest, many senior leaders are departing after receiving substantial bonus payouts.🤫

So today was the first day of phase 1 of this bank restructuring/re-org. Not only was my team disbanded, but our BA & BBPC were impacted on January 28, and those 2 did a ton of work and were the main reasons we were able to closeout our 6 issues on time last year. With them now gone, someone has to pick up that work, so it landed on ME! So now I’m on this new team, handling a different product, so not only I’m I having to learn this product, but the work from our BA & BBPC still falls on me, I asked my new ED about this, she only said “we haven’t fully thought all this out yet, but stick with us, we’re all learning on the spot.”

Learning on the spot, what genius thought this re-org was a great idea? Was it Mike Moran and the 3rd party consultant group he brought in last year? This is going to be a huge cluster f_ck before it’s all said and done.

In the long run, we'll all work for ICBC

6 out of last 7 yrs no profit. two key dates. Market crashes right around 3:16. 4:1 is a critical date b/c if MoA is not in the black by then turning a profit, it's almost lights out, game over for the firm. It's not funny. 1st quarter numbers can not be overstated. Be transparent. B-E-transparent. Rich said profit by Q4 2026 & he needs to be held to his own standard. If we are $5-$10M in the negative as of 4/1 firm will have a tough time the rest of year & to quote sleepy Joe, "it's not a joke."

I told a stranger I work at WF
And they said "must be nice to handle large amounts of cash"

I like how the bank sits on our money earning interest for a week prior to paying it out. Should be criminal.

There are quite a few rumors circulating, so I wanted to check if anyone else has heard anything.

2013 changes to risk capital largely led banks to withdraw from the market. Now its companies like Rocketmortage. This has led to higher mortage rates because banks have cheaper funding (deposits).

Fed is going to change the rules so to incentivize banks to re enter the market, both the risk weights for mortages and mortage servicing rights.

Itll be a growth market for banks.

Too bad chainsaw charlie doesnt know how to grow a business and after 5 years of bi weekly thrashing to the corporate culture no one wants to work at Wells Fu----u

Citi did extraordinary well in 2025 and made it's position top among global banks and J got a 42 million etc but how did it happen? They are cutting left and right, people are overworking, or not working (like me,got fed up with lowest rating). So it's the FEAR which is working, is it?

Going to be small but Community and Commercial banking are going to lose some Executive Directors and possibly one Managing Director.

I'm a relationship banker at a truist branch. I got a licensed banker role with chase and will be giving notice next week. Does truist typically make bankers work out their last 2 weeks?

End of the world layoffs…..

https://youtu.be/t5fXrPMGM5E?si=hO8v3Y_IIifqKTdb