Truist gets an earnings boost from its investment banking unit
American Banker » Investment Banking
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1w ago
After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income ..read more
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Investment banking gives Wells Fargo, JPMorgan Chase earnings boosts
American Banker » Investment Banking
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3w ago
First-quarter results at the companies were promising for other banks looking to reel in fees from capital markets activities as deposit costs put pressure on net interest income ..read more
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Why Goldman Sachs CEO David Solomon has become an AI believer
American Banker » Investment Banking
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3w ago
The New York megabank is working to deploy artificial intelligence as it seeks to make its own operations more efficient. Solomon also sees an "unprecedented" opportunity in financing clients' needs as they invest in AI ..read more
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Amid probes, Morgan Stanley vows not to change its wealth strategy
American Banker » Investment Banking
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3w ago
Morgan Stanley CEO Ted Pick downplayed the importance of government investigations into potential money laundering issues involving wealth management clients. "We've been focused on our client on-boarding and monitoring processes for a good while," he said ..read more
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Investors press Goldman, again, to disclose more pay-gap data
American Banker » Investment Banking
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1M ago
For the second straight year, Goldman Sachs shareholders have filed a proposal calling for more details on racial and gender pay gaps. The request comes as the investment banking giant faces scrutiny over its lack of high-ranking women leaders ..read more
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M&T Bank creates new chief comms role, Citi cuts investment bank jobs, McKinsey publishes new AI report
American Banker » Investment Banking
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1M ago
M&T Bank creates new chief communications officer role, Citi cuts London investment banking jobs as deal drought persists, new report by McKinsey advises banks to institute artificial intelligence from headquarters rather than by divisions, and more in our weekly news roundup ..read more
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Marsh's Oliver Wyman promotes Rosberg, ZayZoon raises 15 million
American Banker » Investment Banking
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1M ago
Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup ..read more
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Wells Fargo's new vice chair Braunstein brings investment banking heft
American Banker » Investment Banking
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2M ago
CEO Charlie Scharf has added another former JPMorgan Chase colleague to his leadership team as his shake-up of Wells Fargo continues. The hire of veteran investment banker Doug Braunstein comes as Scharf makes progress on his efforts to grow Wells' investment bank ..read more
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BNP clients are piling ESG billions into money market funds
American Banker » Investment Banking
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2M ago
BNP Paribas Asset Management says its ESG clients have been moving into money market funds in reaction to volatility in the market ..read more
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Morgan Stanley suit isn't about money, billionaire Mike Ashley says
American Banker » Investment Banking
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2M ago
Retail tycoon Mike Ashley says his lawsuit against Morgan Stanley is in part because the bank acted out of "snobbery ..read more
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