Banking Industry

K. Wayne Wicker, Chairman and CEO of South Atlantic Bank, has been elected Treasurer of the American Bankers Association (ABA) for the 2025-2026 term. Wicker, an ABA board member since 2022 and Treasurer since 2024, brings over 38 years of banking experience. He will focus on strengthening ABA’s financial oversight. Rob Nichols, ABA President, emphasized the importance of volunteer leaders in shaping advocacy priorities for America’s banks to foster innovation, competition, and economic growth. South Atlantic Bancshares, Inc., with over $1.9 billion in assets, operates twelve offices through South Atlantic Bank.

Wall Street firms like JPMorgan Chase and Goldman Sachs are strategically integrating AI into their operations, aiming to automate tasks and enhance efficiency. Despite strong financial performance, both companies are adopting a cautious hiring approach, favoring AI implementation over headcount expansion. JPMorgan Chase’s Q3 profit increased 12% while headcount grew only 1%. Goldman Sachs plans to reorganize around AI capabilities and “constrain headcount growth.” These moves mirror tech sector trends, with operational roles being most vulnerable to AI-driven displacement. Both firms emphasize employee retraining.