Bank of America is slowing hiring as fewer employees leave in an attempt to manage the company's headcount ahead of a possible U.S. recession, Chief Executive Brian Moynihan said.

The firms trimming payroll include lenders, a mortgage insurance giant, an iBuyer and an online notarization software provider.

While the total number is less than some previous rounds, the reductions are a resumption of Goldman's annual culling cycle that it had largely paused during the pandemic, according to people with knowledge of the matter.

The Minneapolis company, which increased its minimum wage to $18 an hour in June, will bump it up to $20 in response to inflationary and competitive pressures.

The San Francisco megabank plans to reinstate guidance that drew scrutiny following revelations that women and nonwhite candidates were interviewed for jobs that had been reserved for someone else.

Natixis’s co-head of structured credit and credit trading has left the bank to join New York-based private equity shop Blue Owl Capital, as the firm seeks to step up its efforts in the collateralized loan obligation market.

Mizuho Securities’ head structurer of collateralized loan obligations has joined New York-based private equity firm Blue Owl Capital as it makes a push into the broadly syndicated CLO industry. 

Federal Reserve Bank of Chicago President Charles Evans plans to retire early next year, the bank said Thursday.

The municipality and the bank have been at odds over similar issues in the past, and no agency currently has deposit accounts with the lender.

The City Council recently voted 15-1 to establish a financial authority that would provide credit enhancements on loans to underserved borrowers. Public banking advocates say the effort is both an interim step for Philadelphia and a test case for other cities.