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Banking and Finance

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Wells Fargo to cut workforce by up to 10 percent in 3 years

Wells Fargo plans to cut its workforce by 5 to 10 percent in the next three years, CEO Tim Sloan reported in a news release.

Reasons given were efficiency and changes in customers’ banking habits …

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JPMorgan Chase will open statewide commercial banking office in Des Moines

Chad Schaller will lead JPMorgan Chase’s commercial banking operation as the first Iowa executive director for middle market banking, according to a release. In this new role, Schaller will lead a team of bankers to …

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Principal names new global asset management leaders

Principal Financial Group has announced a leadership restructuring for its global asset management businesses as part of the company’s succession plan. 

The promotions are part of the succession for Principal Global Investors CEO Jim McCaughan, …

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Moran promoted to partner with McGowen, Hurst, Clark & Smith

McGowen, Hurst, Clark & Smith PC has promoted Wendy Moran from director to partner overseeing assurance within the firm. She assumed the new role last month and will continue to work from the firm’s West Des Moines …

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Mandelbaum joins LWBJ

Certified public accounting firm LWBJ announced that Cyril Mandelbaum has joined the firm as part of her succession plan. Mandelbaum’s career spans more than 45 years of business and community leadership. In addition to her …

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Gibson named CEO at Community State Bank

Kurt Gibson, president and director at Community State Bank since 2017, has been named chief executive officer, succeeding Ron Nagel, who will take and advisory role working with the bank and clients on a part-time …

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Wells Fargo providing $4.7M in down payment grants for qualifying home buyers in Polk County

Wells Fargo & Co., along with a local and a national housing organization, unveiled a $4.7 million mortgage assistance program today that could help 250 Polk County residents become homeowners.

Called NeighborhoodLIFT, the program provides …

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Bass named president of Great Western Bancorp

Longtime Greater Des Moines banking executive Doug Bass has been named president and chief operating officer of Sioux Falls, S.D.-based Great Western Bancorp Inc., parent of Great Western Bank. Bass has been a regional president …

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Tillman, Meeker to lead market, sales for BerganKDV in Des Moines

Professional services firm BerganKDV recently named Adam Tillman as market leader and Scott Meeker as sales leader for the Des Moines market. The new positions were created as a result of the firm’s One Firm vision, moving away from …

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Iowa bank lending continues to grow

Iowa banks reported net income of $264.4 million through the second quarter, with loans increasing 6.3 percent from the year-ago quarter to $60.1 billion, loan charge-offs dropping to 0.06 percent from 0.11 percent and noncurrent …