Morgan Stanley Profit Beats on Strength in Equity Trading, Underwriting
Morgan Stanley reported a better-than-expected quarterly profit on Tuesday, driven by higher revenue in its stock trading and equity underwriting businesses.
JPMorgan’s Consumer Banking Strength Offsets Bond Trading Weakness
JPMorgan Chase & Co. reported a better-than-expected quarterly profit on Friday as gains from higher interest rates and growth in loans helped the bank offset weakness in bond trading revenue.
Goldman, JPMorgan, Four Others Must Face Stock Lending Antitrust Case
A U.S. judge on Thursday ordered Goldman Sachs Group Inc., JPMorgan Chase & Co. and four other large banks to face an antitrust lawsuit by investors who said they conspired to stifle competition in the nearly $2 trillion stock lending market.
JPMorgan Steps Up Push for Women Executives and Clients
JPMorgan Chase & Co. is expanding the reach and funding of a group established to promote women working inside the bank to also help female clients, including entrepreneurs and individuals.
How JPMorgan’s CFO Became the Top Prospect to Succeed Dimon
As a single mother with a British accent who loves numbers, Marianne Lake bears little resemblance to Jamie Dimon, the longtime CEO of JPMorgan Chase & Co., known for his bravado, quips and occasional profanity-laced outbursts.
Goldman Names New Operating Chief, Finance Head in Executive Shakeup
Goldman Sachs Group Inc. on Thursday announced its biggest management shakeup since naming David Solomon as CEO Lloyd Blankfein’s successor.
JPMorgan Looks Abroad as It Commits $500M More to Urban Renewal
JPMorgan Chase & Co. will provide $500 million over five years to promote economic opportunities in selected cities, including some outside the United States, the bank said Wednesday.
Citigroup CFO Gerspach to Retire, Be Replaced by Mason
Citigroup Inc.’s longtime CFO John Gerspach will retire in March, to be replaced by Mark Mason, CFO of the institutional clients group, the third-largest U.S. bank told employees on Tuesday.
Merrill Lynch Does About Face on Fiduciary-Era Policy
Bank of America Corp.’s wealth management arm Merrill Lynch said on Thursday it is reintroducing commissions for its retirement accounts, reversing a policy put in place to comply with Obama-era regulation.
JPMorgan Extends Sapphire Card Brand to Checking Accounts
JPMorgan Chase & Co. is expanding its high-end Sapphire brand to include checking accounts, hoping to attract and keep increasingly affluent Millennial customers, the largest U.S. bank said on Wednesday.
JPMorgan Undercuts Discount Brokerages on Trades
JPMorgan Chase & Co., in a bid to lure customers from the discount brokerage industry, said on Tuesday it will begin offering free stock trades for self-managed accounts through its Chase mobile banking app starting next week.
Morgan Stanley Beats Estimates on Higher Trading Revenue
Morgan Stanley reported a better-than-expected quarterly profit on Wednesday, driven by higher revenues in equities and fixed income trading as well as investment banking.
JPMorgan Sees Brick-and-Mortar Branches as Pivotal to US Expansion
JPMorgan Chase & Co. sees brick-and-mortar banking as essential to expanding into more than a dozen markets over five years, even though customers do 80 percent of their transactions online or at ATMs, a bank executive said on Tuesday. “Seventy-five percent of our...Goldman’s Bond Trading Revenue Slumps 40 Percent
Goldman Sachs Group Inc reported a 40 percent slump in bond trading revenue, mirroring a broader weakness in trading activity that has plagued big U.S. banks in the latest quarter.
JPMorgan Changes Chief Of High-Profile Card Business
JPMorgan Chase & Co. said on Wednesday that Jennifer Piepszak will become CEO of its card services division, replacing Kevin Watters.
JPMorgan CEO Says Bank May Look To Pay Special Dividend
The stock of JPMorgan Chase & Co. has been climbing so much that “at a certain price,” the company may consider issuing a special dividend to distribute excess capital rather than buying back additional stock, CEO Jamie Dimon said on Tuesday.
Banks, Brokers Gird For Brexit-Style Tumult Following Tuesday’s Election
Big global banks, including Morgan Stanley, JPMorgan Chase & Co. and HSBC are bracing for potential tumult on financial markets after Tuesday’s U.S. election.
Citigroup Quarterly Profit Falls 10.5 Percent
Citigroup Inc., the fourth-biggest U.S. bank by assets, reported a 10.5 percent fall in quarterly profit on Friday, hurt by lower revenue from equity trading.
Amazon Enters Student Loan Business In Partnership With Wells Fargo
Amazon.com Inc. is entering the student loan business in a partnership with Wells Fargo & Co., offering cheaper rates for loans to Amazon customers who pay for a “Prime Student” subscription.
JPMorgan Buoys Itself With Loan Growth In Swamp Of Low Rates
JPMorgan Chase & Co. is lending more and keeping a lid on expenses to combat the scourge of low interest rates, allowing management to stick to financial goals for the year.
