Commercial banking

Wells Fargo & Co. has named Charles Scharf to be its new chief executive officer.

The firm hired Damian Maggos in Indianapolis and Matthew Ruess in Crown Point.

The deal will end the family owned Baum's 91-year run in the municipal bond business.

St. Louis-based Stifel said it had reached a definitive agreement to acquire certain assets of Baum, including its municipal bond business.

Brown left city government at the end of Rahm Emanuel's administration.

Representatives of minority- and women-owned small banks from around the country met to discuss how to expand business opportunities.

MWBE University is a program developed by NYC Comptroller Scott Stringer to aid businesses owned and operated by women and people of color.

Wells Fargo promoted Charles Peck to head of public finance, almost a month after firing Stratford Shields from the post.

The bank won't say what led to Stratford Shields' firing; his representative accused the firm of engineering the ouster.

Wells Fargo will replace Stratford Shields, who is out following an administrative leave.

The Treasury Department Inspector General for Tax Administration plans to audit the IRS' use of a much-feared enforcement tool under which it can impose penalties for the misconduct of municipal bond transaction participants such as underwriters, lawyers, municipal advisors or their firms.

Recently announced streamlining and rumored budget cuts and layoffs at SIFMA are causing market participants to worry about its commitment to municipal securities.

Sen. John Kennedy, R-La., suggested he and Sen. Elizabeth Warren, D-Mass., may introduce a bill that would require MSRB to elect public members who represent consumers and are not just retired industry executives.

RBC is adding to its team even as smaller underwriting spreads have driven some players to reduce staff.

An unsealed whistleblower lawsuit accuses eight Wall Street and regional banks and broker-dealers that served as remarketing agents of fraud and collusion in resetting rates for variable rate demand obligations issued by state and local issuers in Illinois.

The household sector’s direct ownership of outstanding muni debt has dropped by $103 billion year over year -- and by more than $300 billion since 2010.

The former Morgan Stanley co-head of public finance has joined a Dallas-based municipal finance solution provider.

Bank loan documents often have corporate tax gross-up provisions.

The firm added three veterans to its debt capital markets group to expand its capabilities.

Dennis G. Ciocca, a municipal industry veteran whose career as a public finance banker spanned nearly 50 years, lost his seven-year battle with prostate cancer on June 14. He was 76.