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Citigroup (NYSE:C) Set to Launch Investment Banking in Malaysia
Citigroup (NYSE:C) has been approved to do investment banking in Malaysia, as it announced it had been awarded a stockbroker license from the Securities Commission of the country. Estimates are it’ll take about six months for... More of this article »
Bank of America (NYSE:BAC) CEO Brian Moynihan Reportedly Demoting Chief Risk Officer Gregory Curl – Other Management Announcements Soon
Now that Bank of America (NYSE:BAC) CEO Brian Moynihan is starting to settle down a little into his new job, he’s starting to think in terms of the team he wants in place at the top of the company, and evidently one of his competitors... More of this article »
SEC Seeks to Add More Charges Against Bank of America (NYSE:BAC) in Merrill Lynch Bonuses Trial
In an interesting twist to a trial neither the Bank of America (NYSE:BAC) or the Securities and Exchange Commission (SEC) wanted, the SEC has asked U.S. District Judge Jed Rakoff for permission to add new charges against the bank,... More of this article »
JPMorgan (NYSE:JPM) Leads Top Banks, including Bank of America (NYSE:BAC), Citigroup (NYSE:C) Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS) in Bonuses
Among the five largest banks in America, JPMorgan (NYSE:JPM) led the way concerning how much they set aside for bonuses in the first nine months of 2009, with an approximate $29 billion total. All together, the five banks reserved... More of this article »
Citigroup (NYSE:C) Replaces North American Retail Banking Head Teresa Dial with Manuel Medina-Mora
Citigroup (NYSE:C) has relieved Teresa Dial as head of their retail banking division in North America with Manuel Medina-Mora. Dial used to work as a retail banker for Wells Fargo (NYSE:WFC) and Lloyds of London (LLOY.LN). Dial was... More of this article »
Citigroup (NYSE:C) Replaces Another Top Manager – This Time in Japan
It looks like Citigroup (NYSE:C) has shown the hand it’s going to play going forward, as it is focusing on strongly shoring up its international operations, and as other major banks, realize the domestic U.S. market isn’t... More of this article »
Why Small Business Lending from Bank Of America (NYSE:BAC), JPMorgan (NYSE:JPM) Wells Fargo (NYSE:WFC) and CitiGroup (NYSE:C) Doesn’t Guarantee Job Creation
Sometimes it’s a little frustrating to read and listen to clueless so-called financial and/or business journalists, as they regurgitate the stupid idea that government bailouts or big banks lending out money will help create... More of this article »
Citibank (NYSE:C) Extends Mobile Banking Service to Thailand
Reports from Bangkok are Citibank (NYSE:C) has become the first foreign bank to offer mobile services to its customers, providing a suite of services to those always on the go. Dubbed Citi Mobile®, all the perks associated with doing... More of this article »
Leveraged-Loan Market Will be Good to JPMorgan Chase & Co. (NYSE:JPM), Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS) in 2010
Corporate defaults last year reached a total of 189, the most in 29 years, said S&P analyst Diane Vazza, and that has created strong opportunities for a number of banks in 2010, including JPMorgan Chase & Co. (NYSE:JPM), Bank... More of this article »
Bank of America (NYSE:BAC) Cranking Up Bonuses for Investment Bankers
Bank of America (NYSE:BAC) and Brian Moynihan has sent a clear signal to its investment banking brokers that they’re going to take care of them going forward, as bonuses are set to reach the levels they were in 2007 for Merrill... More of this article »
Citigroup (NYSE:C) Report Shows Reduced Fourth-Quarter Profits for Morgan Stanley (NYSE:MS), Goldman Sachs Group Inc (NYSE:GS) and JPMorgan Chase (NYSE:JPM)
In its 2010 Outlook report, Citigroup (NYSE:C) reduced its profit projections for Morgan Stanley (NYSE:MS), Goldman Sachs Group Inc (NYSE:GS) and JPMorgan Chase & Co (NYSE:JPM), citing significant reductions in trading by the financial... More of this article »
Horizon Bank of Washington is First Bank Failure of 2010
While the New Year didn’t start off with a bang as far as bank failures go, Horizon Banks’ failure on Friday is the first of what will probably be close to 200 bank failures in 2010; far exceeding the bank failures of 2009.... More of this article »
Former Citigroup (NYSE:C) Executive Goes to Arbitration Over Frozen Severance Pay
I was wondering how long it would take for banking executives to start going after banks over the terms agreed to in relationship to severance packages, and we may be at the beginning of a number of arbitrations and lawsuits in connection... More of this article »
Credit Suisse Raises Rating on Bank of America (NYSE:BAC) from “Neutral” to “Outperform”
Credit Suisse raised its rating on Bank of America (NYSE:BAC) from “Neutral” to “Outperform,” saying it was the cheapest stock among all the large-cap banks to invest in. According to the brokerage, Bank of... More of this article »
Will Charles Schwab (NASDAQ:SCHW) Trading Fee Cuts Initiate Discount Brokerage Price Wars?
The move by Charles Schwab (NASDAQ:SCHW) to cut its trading fees to $8.95 for each equity trade could precipitate a price war among discount brokerages, who have been struggling in a low interest rate environment. Most existing trades... More of this article »
Citigroup (NYSE:C) Director John Deutch Stepping Down Under Pressure
Although there will be no mention of it from Citigroup (NYSE:C) or John Deutch, the board member for the giant financial institution will not seek re-election to the board this year, as pressures to get people on the board with more... More of this article »
Goldman Sachs Group (NYSE:GS) Converting $1.09 Billion of Preferred Shares in Sumitomo Mitsui Financial Group
Goldman Sachs Group (NYSE:GS) agreed with Sumitomo Mitsui Financial Group to convert $1.09 billion in preferred shares it holds in the company, helping the company to raise much needed capital, as it trails its global rivals. Measured... More of this article »
JPMorgan Chase & Co. (NYSE:JPM), Bank of America Corp. (NYSE:BAC) and U.S. Bancorp (NYSE: USB) Among Leading Stocks for 2010 Says Analysts
A report yesterday from KBW Inc. noted that among the best potential stocks of 2010 are JPMorgan Chase & Co. (NYSE:JPM), Bank of America Corp. (NYSE:BAC) and U.S. Bancorp (NYSE: USB), based upon the fact that their capital raising... More of this article »
Citigroup’s (NYSE:C) Investment Bank Chief John Havens Paid $9.7 Million in 2009
The head of Citigroup’s (NYSE:C) investment banking division John Havens received at minimum $9.7 for his work for the company in 2009. In a regulatory filing this week, Citigroup revealed Havens had been awarded 2.7 million... More of this article »
Is Bank of America Corp.’s (NYSE:BAC) Brian Moynihan Working on Becoming the Voice and Face of the Industry?
Listening to and reading about what Bank of America Corp.’s (NYSE:BAC) Brian Moynihan has been saying in the first few days as CEO of the banking giant makes me think he’s attempting to position himself as the voice of... More of this article »
Bank of America Corp. (NYSE:BAC) Can’t Use Media Reports in Civil Trial
Bank of America Corp. (NYSE:BAC) received a blow from U.S. District Judge Jed S. Rakoff in their civil trial with the Securities and Exchange Commission, as Rakoff granted a request from the SEC to forbid expert witnesses for Bank... More of this article »
Bank of America Corporation (NYSE:BAC) Hit With Class Action Lawsuit
More fallout from what is becoming a debacle for Bank of America Corporation (NYSE:BAC) in relationship to its acquisition of Merrill Lynch, and its alleged misbehavior in bonuses awarded to executives of Merrill Lynch of $5.8 billion,... More of this article »
Is Goldman Sachs Group (NYSE:GS) Entry Into ETFs a Good Strategy?
The interest by Goldman Sachs Group (NYSE:GS) to enter into the ETF market generates some questions as to how profitable it can be and how much of a foothold they can secure in an already crowded field of approximately 800 ETF funds... More of this article »