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Proxy Showdown at Wells Fargo (NYSE: WFC)
Is a proxy fight brewing at Wells Fargo (NYSE: WFC)? It may be too early to tell, but maybe. The San Francisco based banking giant has been forced to vigorously defend its slate of candidates to serve on the board after two proxy... More of this article »
Bank of America (NYSE: BAC) Hires Former JPMorgan Chase (NYSE: JPM) Exec Howard
The game of musical chairs on Wall Street continues to go on. Earlier this week JP Morgan Chase (NYSE: JPM) Announced significant hiring plans across the business, and Citigroup (NYSE: C) followed with large expansion plans of their... More of this article »
JP Morgan Chase (NYSE: JPM), Bank of America (NYSE: BAC), Citigroup (NYSE: C), Goldman Sachs (NYSE: GS), Wells Fargo (NYSE: WFC), and Others Named In EU Probe
Major banks are facing increased scrutiny in the EU, where a competition watchdog is investigating their practices, as well as a financial data firm and a clearing house, in the market for credit default swaps. During the financial... More of this article »
JPMorgan Chase (NYSE: JPM) Analysts Chime in on Gas Prices
As the summer travel season is nearly upon us, consumers are worried about the prospects of rising gasoline prices. With speculators expecting further volatility in the middle east, many fear gas prices will continue to inch higher... More of this article »
AIG (NYSE: AIG) Planning To Sue ICP and Moore Capital, Goldman Sachs (NYSE: GS) Next?
Against all odds, AIG (NYSE: AIG) was able to survive the financial crisis of 2008 (thanks to large cash infusions from the government.) Now though, their attention has to turned from surviving to going after some of the losses with... More of this article »
Former Wells Fargo (NYSE: WFC) Exec to Lead U.S. Bancorp (NYSE: USB) Ultra High Net Worth Division
The U.S. banking industry has become highly fragmented over the past few years. As many of the large banks change their business models to target new opportunities, most have the same goal: more wealthy customers. The theory goes that... More of this article »
Bank of America (NYSE: BAC) Plans New Credit Card Fees, Follows JPMorgan Chase (NYSE: JPM) and Wells Fargo (NYSE: WFC) Approach
The financial services industry continues to struggle with replacing the revenue lost through the Dodd Frank financial regulatory reform legislation. Since the major banks have to get out of prop trading, and now have limits on overdraft... More of this article »
JPMorgan Chase (NYSE: JPM) Exec Voices Concern Over Debt Ceiling
Although the government was able to avoid a shut down a few weeks ago, a bigger financial problem may be brewing as well. As noted in various news outlets, the debt ceiling for the U.S. is just above current levels, and is expected... More of this article »
California Public Employees Retirement System Disagrees with Plan from Goldman Sachs (NYSE: GS)
CalPERS, the California Public Employees’ Retirement System is concerned by a plan set forth by Goldman Sachs (NYSE: GS). Goldman’s plan is to liquidate Lehman Brothers Holdings Inc., the last remnants of the once storied... More of this article »
Citigroup (NYSE: C) To Hire 500 New Employees
In what may turn out to be some of the most promising signs of the economic recovery on Wall Street, Citigroup (NYSE: C) has disclosed plans to hire 500 new employees over the next two years. A bank spokesperson confirmed the rumors... More of this article »
Bank of America (NYSE: BAC)’s Krawcheck Planning Management Changes for Brokerage Business
Salle Krawcheck, President of Bank of America (NYSE: BAC)’s wealth management division continues to search for a head of the firms brokerage business. The 15,500 person operation remains one of the largest in the industry, and... More of this article »
JPMorgan Chase (NYSE: JPM) CEO Dimon Speaks Out Against Regulatory Reform
Jamie Dimon, the Chief Executive Officer of JPMorgan Chase (NYSE: JPM) was able to navigate his firm through the financial crisis relatively unscathed, and even picked up a few business opportunities in the process. While Dimon has... More of this article »
Bank of America (NYSE: BAC), Wells Fargo (NYSE: WFC), JPMorgan Chase (NYSE: JPM), and Citigroup (NYSE: C) Meet with State Attorney Generals
The mortgage crisis that began nearly three years ago continues to plague the banking industry, but the firms with the greatest exposure are seeking to expedite and remediate the issue as soon as possible. Today, officials from Bank... More of this article »
Bank of America (NYSE: BAC) Hires Goldman Sachs (NYSE: GS) Exec
A day after Citigroup (NYSE: C) announced key new hires targeting the European market, Bank of America (NYSE: BAC) has made a splash of their own. The Charlotte based bank has hired a Goldman Sachs (NYSE: GS) executive to run its North... More of this article »
Citigroup (NYSE: C) Hires Former UBS (NYSE: UBS) Exec Guerin for Europe Post
Citigroup (NYSE: C) is getting aggressive in the European region, announcing key hires aimed at helping restore inroads that have fractured since the financial crisis. Facing mounting challenges in the US market this may provy to... More of this article »
Shareholders Sue Bank of America (NYSE: BAC) Over Mortgage Mess
Bank of America Corp (NYSE: BAC), the nation’s largest bank, has been battered by lawsuits during the past two years and there does not appear to be an end in sight. Yesterday, one more has been added to the mix. A group of shareholders... More of this article »
Bank of America (NYSE: BAC) Seeking To Improve Online Retail Presence
Bank of America (NYSE: BAC) may be the largest U.S. bank when measured by deposits, but is still struggling to meet the demands of customers in the new technology centric economy. The firm is seeking to hire three executives to improve... More of this article »
Citigroup (NYSE: C) Hires Popham For Europe Post
As Citigroup (NYSE: C) continues to rebound from the depths of the financial crisis, the firm has sought to shed assets and rebuild its image. Part of that image transformation involves hiring well connected people to create business... More of this article »
Lloyds Banking Group Plc Taps JPMorgan Chase (NYSE: JPM) and Citigroup (NYSE: C) For Asset Sale
JPMorgan Chase (NYSE: JPM) and Citigroup Inc. (NYSE: C) have been tapped by Lloyds Banking Group Plc to oversee the sale of six hundred branches. Lloyds, Britain’s largest mortgage lender, has been ordered by European Union regulators... More of this article »
JPMorgan Chase (NYSE: JPM) CEO: Don’t Lump All Banks Together
No one questions Jamie Dimon’s passion. As Chief Executive of JPMorgan Chase (NYSE: JPM), he resides at the top of US finance, able to navigate his firm through the financial crisis relatively unscathed, while picking up strong business... More of this article »
Bank Execs from JPMorgan Chase (NYSE: JPM), Barclays (NYSE: BCS), Bank of America (NYSE: BAC), and Others Converge in Davos
Davos, Switzerland was the site of a major meeting today, bringing together the chief executive officers from many of the major banks. The leaders of Bank of America Corp (NYSE: BAC), Barclays Plc (NYSE: BCS), JPMorgan Chase (NYSE:... More of this article »
JPMorgan Chase (NYSE: JPM) Decreases Gannett Investment
The newspaper industry isn’t what is used to be. With the rise of digital news, the industry finds itself losing customers, and investors alike. This week, news came down that JPMorgan Chase & Co. has reduced its stake in Gannett... More of this article »
Paulson Scores Big Profit on Citigroup (NYSE: C)
John Paulson, the hedge fund manager famously embroiled in the “Fabulous Fab” trading issue at Goldman Sachs (NYSE: GS) has apparently done quite well since mid-2009, reportedly earning $1 billion on his investment in Citigroup... More of this article »