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J.P. Morgan Chase (NYSE: JPM) Taps Shenglin to Head Corporate Banking Business in China
The Wall Street Journal is reporting that J.P. Morgan Chase (JPM) has hired Ben Shenglin to head its corporate banking business in China. This is the latest move to support the financial firm’s announced intention to expand their... More of this article »
U.S. Bancorp (NYSE: USB) Reports 26% Increase in 1Q Earnings – Meets Expectations
U.S. Bancorp’s (USB) first-quarter earnings rose 26% as the company said its credit-loss provisions fell to the lowest level since the fourth quarter of 2008. The results were “driven by solid year-over-year growth in total... More of this article »
Earnings Reports in Focus for Regional Banks Including: Regions Financial Corp. (NYSE: RF), U.S. Bancorp (NYSE: USB), and SunTrust Banks (NYSE: STI)
Next week, large regional banks including Regions Financial (RF), SunTrust Banks (STI) and U.S. Bancorp (USB) will begin unveiling their first-quarter numbers. Regional banks have surged roughly 30% this year, as many investors,... More of this article »
Analysts Reports Show Continuing Concern About Bad Loans at Citibank (NYSE: C), Bank of America Corp. (NYSE: BAC), J.P. Morgan Chase (NYSE: JPM) and Wells Fargo (NYSE: WFC)
JPMorgan Chase & Company’s (JPM) first quarter earnings came in at 74 cents per share. That was substantially ahead of the Consensus Estimate from Zacks Investment Research of 63 cents per share. Bank of America Corp. (BAC) reported... More of this article »
Earnings at Bank of America Corp. (NYSE: BAC) Show Investors a Glass that is Half-Empty and Half-Full
A surge in profits from bond and stock trading propelled Bank of America Corp. (BAC) to $3.2 billion in first-quarter earnings, more than doubling from the fourth quarter of last year. Bank of America enjoyed a similar surge in its... More of this article »
Sale Continues at Citi (NYSE: C). SkyBridge Capital LLC to Acquire Three Hedge-Fund Businesses
Continuing to reduce their risk profile, Citigroup Inc (C) has announced the sale of three hedge-fund businesses to SkyBridge Capital LLC. The sale is the latest step being taken by Citi to reduce the government shadow (the Treasury... More of this article »
Under Fire in Washington, J.P. Morgan Chase & Co. (NYSE: JPM) Reports 55% Increase in Profits
J.P. Morgan Chase (JPM) reported a 1st quarter profit of $3.3 billion, an increase of 55% from a year earlier. The improving economy left its mark on the bank’s first-quarter earnings, as delinquencies continued to decline and the... More of this article »
SunTrust Banks Inc. (NYSE: STI) and Regions Financial Corp. (NYSE: RF) Remain Likely Targets of M & A Activity
In June of 2009, CreditSights issued a report that listed SunTrust (STI) and Regions Bank (RF) as the top two franchises in terms of merger attractiveness once banks exited the U.S. government’s Troubled Asset Resolution Program... More of this article »
Stock Rises Over 4% on the Day as Analysts are Bullish on Citigroup (NYSE: C)
One day after reports that Citigroup (C) may have weathered the worst of the financial storm, shares of the financial giant were up over 3% in afternoon trading on Wednesday. Reports of high demand for a $2 billion trust offering were... More of this article »
Citibank (NYSE: C) CEO Pandit to Testify Before Congress
Will he be able to show real change, or will it be just more of the same? That’s the question facing Citibank (C) Chief Executive Vikram Pandit on Thursday as he will appear before a congressional panel in charge of overseeing the... More of this article »
Can a Bonus be Good if a Charity Benefits? HSBC Holdings PLC (NYSE: HBC) CEO Set to Donate Bonus to Charity.
If you donate some of your bonus to charity, is it still bad? This may be a question some will ask as HSBC Holdings PLC (HBC) Chief Executive Michael Geoghegan has suggested he will give all or part of his bonus to charity. The Wall... More of this article »
Is Moynihan Enough? Bank of America Corp. (NYSE: BAC) Shares are Outperforming Key Rivals
Shares of Bank of America (BAC) have risen impressively, and implausibly, off of their lows at the height of the financial crisis. Many analysts cite new CEO Brian Moynihan as a key reason for the stock’s performance. Moynihan has... More of this article »
Former Mexican President Zedillo Headlines Changes to Citigroup (NYSE: C) Inc. Board of Directors.
In an attempt to regain shareholder confidence, Citigroup Inc. (C) announced changes to their board of directors. The moves were announced by Citigroup chairman Richard Parsons who began the turnover of the financial giant’s board... More of this article »
Look Who’s Back. Citibank (NYSE: C) and Wells Fargo & Co. (NYSE: WFC) Among Big Banks Courting Customers
They’re back! But the question is, do you still want them? A recent article at CNNMoney.com shows that after a year of bonuses, bailouts, tight credit, rising fees, and reduced lending, some of the nation’s top lenders,... More of this article »
Brokers “Hitting the Jackpot” with Retention Bonuses at Morgan Stanley (NYSE: MS)
In what is becoming an almost weekly ritual, bonuses were back in the news. This time the issue was retention bonuses and the target was brokers at Morgan Stanley’s (MS) Smith Barney unit. As reported in the Wall St. Journal, about... More of this article »
Pending Ruling Over Bank of America (NYSE: BAC) Disclosures Puts SEC and Attorney General Cuomo at Odds
What did he know? When did he know it? And why was he fired? Those are the questions U.S. District Judge Jed S. Rakoff will ponder regarding the circumstances surrounding the firing of former Bank of America (BAC) general counsel Timothy... More of this article »
Guilt by Association? Wells Fargo & Co’s. (NYSE: WFC) Purchase of Wachovia Increases Exposure to Troubled Mortgages
Wells Fargo & Co. (WFC) finds themselves at the epicenter of a problem that continues to vex homeowners in this fragile economy. At issue are tens of thousands of customers with adjustable-rate mortgages who have seen their monthly... More of this article »
Is Citigroup (NYSE: C) Looking South for Successor to Pandit?
If speculation inside Citigroup (C) is to be believed, then former Latin America head Manuel Medina-Mora may be one step closer to fulfilling a large ambition. Although current Citigroup CEO Vikram Pandit has only been in his position... More of this article »
Mr. Moynihan Goes to Washington. Bank of America Corp. (NYSE: BAC) CEO Makes D.C. a Strategic Priority
To the person who is against all things banking right now, Bank of America Corp. (BAC) CEO Brian Moynihan may seem like a cynical opportunist. Moynihan sees himself as making a statement. Bank of America gets it. For decades, Bank... More of this article »
Live from Davos. Citigroup Inc. (NYSE: C) and Bank of America Corp. (NYSE: BAC) CEOs Defend Their Banks
Is it faith, trust, pixie dust, or just the rarefied air at Davos? Citigroup Inc. (C) CEO Vikram Pandit and Bank of America Corp. (BAC) CEO Brian Moynihan each defended their respective institutions in interviews that are sure to set... More of this article »
The Next Bailout Recipients? Employees of Bank of America Corp. (NYSE: BAC), Citigroup (NYSE: C), and Goldman Sachs (GS)
You have to love, or at the very least, appreciate the irony. The latest victims in the imbroglio over banking compensation are … bank employees. Bank of America Corp. (BAC) and Citigroup Inc (C) among others have instituted programs... More of this article »
Will Sharpened Clawback Provisions at J.P. Morgan Chase (NYSE: JPM), Bank of America Corp. (NYSE: BAC), and Morgan Stanley (NYSE: MS) Quiet Populist Rage?
The big banks continue to respond to the growing outrage focused on their compensation practices. The Wall Street Journal reports that many banks including J.P. Morgan Chase (JPM), Bank of America Corp. (BAC), and Morgan Stanley (MS)... More of this article »
Wells Fargo (NYSE: WFC) Gets High Marks; J.P. Morgan Chase (NYSE: JPM) Not So Much in Latest Treasury Report on Small Business Lending
It’s been said that the definition of insanity is doing the same thing again and again and expecting a different result. We can only hope that all parties involved will move past the current focus on bonuses and bailouts and move... More of this article »