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JP Morgan Chase (NYSE: JPM) Shaking Up M&A Management Team
JPMorgan Chase & Co. (NYSE: JPM) has announced plan to shake up its management team in the deal advisory business. The firm has moved two long-time managers into senior relationship roles, while also hiring a prominent corporate... More of this article »
Bank of America (NYSE: BAC) Earnings Disappoint
Bank of America (NYSE: BAC) disclosed their earnings results earlier today, and the firm disclosed the second straight quarterly loss. Driven by writedowns in the value of its mortgage business, the firms results continue to sag behind... More of this article »
Barclays (NYSE: BCS) Kenya Division to Shed Jobs
Though much of the news on the financial crisis is focused on US based banks, we are often reminded that the impacts are felt the world over. Most recently, Barclays Bank of Kenya Ltd., which is majority owned by British banking giant... More of this article »
Former JPMorgan Chase (NYSE: JPM) Exec Daley Gets Tax Relief
When a private sector executive heads for Washington, one of the first and biggest obstacles to overcome is shedding their investments in a reasonable manner. William Daley, President Obama’s new Chief of Staff and former JPMorgan... More of this article »
Wells Fargo (NYSE: WFC) Won’t Settle With Fannie Mae, Freddie Mac
Although it’s largest competitors chose to settle with Fannie Mae and Freddie Mac, Wells Fargo (NYSE: WFC) has chosen to buck that trend. Howard Atkins, Chief Financial Officer of Wells Fargo said such settlements as those reached... More of this article »
Bank of America (NYSE: BAC), Citigroup (NYSE: C), and Others Launching New Fee Models
When Congress passed regulations on the financial industry, banks warned that the restrictions would lose them revenue, inevitably causing them to raise rates and fees to recover it. Banks have proved many times they weren’t... More of this article »
Wells Fargo (NYSE: WFC), JP Morgan Chase (NYSE: JPM), and Bank of America (NYSE: BAC) Planning New Fees
As the new Dodd Frank legislation works it’s way through the bank operating committees, the firms have lost a number of historical cash cows. As a result, they have to be innovative to generate new fees to continue bolstering... More of this article »
Goldman Sachs (NYSE: GS) Posts Q4 Earnings
Goldman Sachs (NYSE: GS) disclosed their fourth quarter earnings results earlier today, and the results are cause for concern at the behemoth investment bank. Goldman’s earnings fell 53% in the fourth quarter due to sharp declines... More of this article »
Citigroup (NYSE: C) Results Show Improvement, But Fall Short of Estimates
Earlier today, Citigroup (NYSE: C) disclosed their fourth-quarter earnings results. The news was positive in whole, showing net income of $1.3 billion after it recorded fewer losses from loans, allowing it to take money out of reserves... More of this article »
JPMorgan Chase (NYSE: JPM) Posts Big Fourth Quarter
The hits keep coming for JPMorgan Chase (NYSE: JPM). The house that Dimon built continues to post impressive earnings, even while competitors are still feeling the sting of the 2008 financial crisis. Today, JPMorgan Chase disclosed... More of this article »
Goldman Sachs (NYSE: GS) Has Big Empty Space in Zurich
Has the increased scrutiny surrounding Swiss bank accounts caused banks to second guess expansion plans in the region? Maybe. Although JPMorgan Chase (NYSE: JPM) recently announced plans to grow headcount in the region targeting... More of this article »
Reverse Stock Split for Citigroup (NYSE: C)?
During difficult financial times, many companies have seen their stock prices pushed to historic lows. In the financial services industry, the banks have been battered to below book value in many cases, and firms like Citigroup (NYSE:... More of this article »
Goldman Sachs (NYSE: GS) Prop Traders To Start New Fund
As firms begin to implement the reforms mandated in the Dodd Frank Financial Regulatory legislation, one of the first areas to be impacted is the so called ‘prop trading desks’. One of the largest firms in this market to... More of this article »
Bank of America (NYSE: BAC) Building New Fee Model, JPMorgan Chase (NYSE: JPM) Set To Follow?
While the Dodd Frank Congressional Finance Reform legislation created new regulations designed to protect consumers better than ever, it also cut off profitable lines of business for banks in the process. As a result, the nation’s... More of this article »
JPMorgan Chase (NYSE: JPM) Facing Mounting Legal Costs
Although most market participants agree that the worst of the financial crisis is over, the ramifications of it continue to be felt across the banking sector. JPMorgan Chase & Co. and the biggest U.S. banks face billions of dollars... More of this article »
JPMorgan Chase (NYSE: JPM) Exec To Be Chief of Staff
JPMorgan Chase (NYSE: JPM), like Goldman Sachs (NYSE: GS) and other major US banks is well connected. Many of their firm’s alumni reside in positions of power, and that power resides in Washington. Early last year investors in... More of this article »
Former Goldman Sachs (NYSE: GS) Programmer Convicted
Program trading is a difficult, but lucrative trade. The large trading houses have crafted proprietary systems to give them an edge, and fiercely protect that code. During 2010, when news broke that a former Goldman Sachs (NYSE: GS)... More of this article »
Big Bonus for Bank of America (NYSE: BAC) Exec
With government appointed compensation czar Ken Feinberg in the rear view mirror, paychecks at Bank of America (NYSE: BAC) appear to be on the rise. According to a securities filing, executive Tom Montag received $7 million in BofA... More of this article »
Citigroup (NYSE: C) Execs Cleared in India Probe
India’s investigation into top Citigroup (NYSE: C) executives came and went quickly. As has been widely publicized, the Indian government has brought a case against a Citi employee who may have forged bank accounts, documents and... More of this article »
JPMorgan Chase (NYSE: JPM) Plans Expansion in Switzerland
Banking in Switzerland may not be as popular as it once was, following the crack down of US and European taxing authorities, but it remains a hotbed for wealthy investors. With increased regulations and dissipating growth opportunities... More of this article »
Tough Task Ahead for Bank of America (NYSE: BAC) CEO Moynihan
Brian Moynihan, Chief Executive Officer at Bank of America (NYSE: BAC) has his work cut out for him. Although he’s been battling fires valiantly since taking over the reigns of the firm struggling to rebound from the financial crisis,... More of this article »
Credit Suisse Cuts Estimate on Goldman Sachs (NYSE: GS)
Citing choppier than expected market conditions for the fourth quarter, analysts at Credit Suisse lowered their earnings estimates for Goldman Sachs (NYSE: GS). Investors can take some solace though, as one positive for them may... More of this article »
Wells Fargo (NYSE: WFC) ATM’s To Speak Russian
Wells Fargo & Co. (NYSE: WFC) clearly has growth aspirations. With it’s competitors weakened since the financial crisis, while they emerged nearly unscathed and with backing from Warren Buffett, the firm has enacted a series... More of this article »