Bloomberg Bank of Montreal (BMO) has received approval from the Federal Reserve to acquire San Francisco-based Bank of the West, a combination that will create the 15th-largest US lender. After the transaction, Bank of Montreal US subsidiary BMO Financial Corp. will have consolidated assets of $286.8 billion, representing about 1% of those held by insured depository institutions in the US, …

Bloomberg Coinbase Global Inc. is halting operations in Japan, less than a month after another major digital asset exchange Kraken announced its withdrawal from the country. Customers will have until February 16 to withdraw their fiat and crypto holdings, Coinbase said in a blog post on Wednesday. Any remaining crypto held at Coinbase on or after February 17 will be …

  Bloomberg Bank of New York Mellon Corp. is planning to lay off about 1,500 staff this year as the US lender says costs will be a top priority for 2023. The reductions account for about 3% of the firm’s 51,700 workforce at year end. The bank reported revenue of $3.92 billion in its fourth-quarter results, missing analyst estimates. BNY …