Allianz names technology leader, former AIG executive to management board

2 hours ago.
Munich-based insurance and asset management firm Allianz said Friday that it appointed two new members to its management board, one of whom is moving into a position that was held by the company’s retiring chief operating officer.

Deutsche Bank may introduce ‘hybrid’ work-from-home model permanently

3 hours ago.
Deutsche Bank is considering revising its work-from-home policy to allow employees to split their work between the office and their homes in the future, a bank spokesperson said Friday, as the lender looks for cost-cutting opportunities amid the global pandemic.

UK banks urged to crack down on remote employee conduct violations

September 24, 2020.
A U.K. financial watchdog reportedly urged banks and investment managers to more closely supervise employees working from home as financial firms scale back return-to-office plans amid a resurgence of COVID-19 in the country.

Board veteran Lionel Nowell to lead Bank of America’s independent directors

September 24, 2020.
Seven-year board veteran Lionel Nowell will become Bank of America’s lead independent director, the U.S.’ second-largest bank said Thursday, succeeding Jack Bovender, who will retire next year after a half-dozen years at the helm.

Travelers expands business insurance line with new bundled policy

September 23, 2020.
Travelers Cos. launched a new insurance program Wednesday that caters to professional service providers through industry-tailored coverage options and by combining their property, casualty and business policies into one.

Hamilton Lane picks insider Paul Yett as first ESG boss

September 23, 2020.
Hamilton Lane said on Wednesday that it has chosen Paul Yett, a managing director with more than two decades of experience at the private equity firm, for a new role leading its environmental, social and governance efforts.

Ex-Trump top staffer Mulvaney joins crypto lobbying group along with Goldman Sachs, Visa

Last modified September 23, 2020. Published September 23, 2020.
Mick Mulvaney, who has held several high-profile Trump administration roles including acting chief of staff, will join the board of advisors for a U.S. blockchain lobbying group which counts several major banks as members.

Deutsche Bank CFO says restructuring remains on track despite COVID-19

September 22, 2020.
Deutsche Bank’s chief financial officer continued to express confidence Tuesday that the investment bank will reach restructuring targets by 2022, despite the challenges presented by the COVID-19 pandemic.

Lincoln Financial vows to hire Black officers as part of new diversity plan

September 21, 2020.
Lincoln Financial, the sixth-largest U.S. life and annuities firm by premiums, plans to appoint more Black executives as part of a commitment to promoting diversity spurred by protests calling for racial equality.

IAG names insider as new CEO

September 21, 2020.
Insurance Australia Group, the largest general insurance provider in Australia and New Zealand, on Monday named longtime company executive Nick Hawkins as its new managing director and CEO to succeed its retiring chief.

Libra hires former HSBC executive as CEO of crypto payments unit

Last modified September 17, 2020. Published September 17, 2020.
The Facebook-backed Libra Association said on Thursday that it appointed former HSBC executive James Emmett as the CEO and managing director of Libra Networks, the unit tasked with developing and operating the company’s cryptocurrency payments system.

JPMorgan picks ex-NBC executive to replace Lee Raymond as lead independent director

September 16, 2020.
JPMorgan Chase said Tuesday that Stephen B. Burke, a longtime board member, has been named as its next lead independent director, replacing former ExxonMobil Chairman and CEO Lee Raymond, who previously agreed to step down from the role amid pressure from environmentalists.

U.S. Deutsche Bank employees not required to return to office until July 2021

September 16, 2020.
Deutsche Bank will not require its U.S.-based employees to return to its New York office until next July, definitively signaling that the German bank is joining others in preparing for a long stretch of remote work.

Zurich to offer alternative to workers’ compensation insurance for Texas employers

September 16, 2020.
Zurich North America on Wednesday launched a specialized liability insurance policy tailored for the unconventional market of Texas, the only U.S. state that does not require employers to maintain workers’ compensation coverage.

JPMorgan sends some workers home after exposure to COVID-19

September 15, 2020.
JPMorgan Chase, the largest U.S. bank by assets, sent some of its staff in New York home this week after one of its equity traders tested positive for COVID-19, ahead of plans to reopen the bank’s trading floor.

Mizuho backs off plan to allow all staff into London office after U.K. coronavirus cases surge

September 15, 2020.
Japanese bank Mizuho International said Tuesday that it has pulled back on a move to allow all of its staff back into its London office after a surge of COVID-19 cases in the U.K.

AIG names new leader for Japan operations

September 15, 2020.
American International Group has tapped Guy Carpenter veteran James Nash to lead its operations in Japan, the New York-based insurer said Tuesday.

Court finds AXIS should pay for Northrop Grumman’s 401(k) disputes

September 14, 2020.
AXIS Capital’s reinsurance arm is stuck with a bill for Northrop Grumman’s legal battles over employee retirement plans, after an appeals court ruled the insurer can’t back out of providing excess coverage after primary insurers paid out.

BNY Mellon consolidates leadership for 4 businesses under ex-Goldman executive

September 14, 2020.
The Bank of New York Mellon has named a former member of Goldman Sachs’s management committee as the new head of its global market infrastructure division, consolidating four of its businesses under a single leader.

McKinsey finds US financial sector falls far short of racial equality in C-suite

Last modified September 11, 2020. Published September 11, 2020.
People of color remain poorly represented in upper ranks of U.S. financial firms, despite roughly reflecting the population in entry-level roles, indicating that white employees are much more likely to be promoted, McKinsey & Company said.