Smith returned to his hometown of Indianapolis in 1969, when he became an executive vice president of American Fletcher National Bank.
Tech talent and naming rights on the state’s tallest building were key factors that helped Indianapolis secure an 800-employee hiring commitment from Salesforce.com this month.
The deal is a result of an investigation into the sale of mortgage-backed securities in Indiana and losses suffered by the Indiana State Teachers’ Retirement Fund.
Indiana securities regulators are investigating how JPMorgan handled investments inside trusts that benefited churches in the state, Bloomberg News reported. The inquiry follows a lawsuit filed in 2014 by Christ Church Cathedral, which alleged the bank mismanaged trusts endowed by Eli Lilly Jr.
The 48-story Chase Tower, the state’s tallest office building, has more vacant space than it has had in decades. But increasing speculation in the local office market that Salesforce.com will take a big chunk of space there could mean it is poised for a turnaround.
The Monument Circle church suffered a setback in May after a judge threw out most of the case against the banking giant but give it a chance to refile most of its claims.
Expected to take effect in May, the Indianapolis layoffs are part of a company-wide strategy to wind down student loan services.
Maria Quintana, a Chase Bank Indiana executive widely credited with helping establish the bank here, is retiring at the end of the first quarter, the company announced.
As of June 30, First Merchants Bank had amassed $958 million in deposits at 27 Indianapolis-area offices, placing it 10th, Federal Deposit Insurance Corp. data shows.
JPMorgan Chase argues it did a "solid" job managing trust accounts endowed by Eli Lilly Jr. The banking giant says the church's lawsuit cherry-picks facts and paints a "grossly inaccurate picture."
Christ Church Cathedral has filed a federal lawsuit against JPMorgan Chase, alleging the bank’s “intentional mismanagement” and “self-dealing” led to $13 million in losses in church trust accounts endowed in the 1970s by Eli Lilly Jr.
An Indianapolis woman embezzled more than $400,000 from JP Morgan Chase in an electronic-transfer scheme that lasted eight years.
A former Old National executive is taking the reins in the Indianapolis market, and the Cincinnati-based bank’s state operations chief has moved to Carmel to get a better on-the-ground perspective of the growth market.
Local banking veteran and community leader Albert J. Smith Jr. is eight years older than his predecessor, who retired in January.