Tag:
Banking Industry
Latest Headlines
Latest Headlines
Jamie Dimon on the future of banker compensation
Are we at a compensation inflection point in the banking industry? The conventional wisdom is that the glory days of fat compensation are over.
This view was eloquently expressed at the recent Goldman Sachs bank investor conference by Kenneth Jacobs, the CEO of Lazard. As quoted by Financial
Citigroup slashes 4,500 jobs, $400 million
The holiday season in the banking industry has been marred by a lack of good cheer brought on by lots of job anxiety.
Bank executives are in a mood to cut expenses, and the axe fell at Citigroup this week. The bank announced it would slash 4,500 jobs over the next few quarter, about 1.7 percen
For banks, a new era of reduced expectations
In previous posts, we've suggested that the banking industry is still struggling to find the next big thing, that is, the next major revenue source that will serve as a gravy train for the entire company. Something along the lines of the earlier dotcom boom and of course the subprime securitizatio
Wells Fargo hits expectations for third quarter
There was plenty of good news in the third quarter earnings report from Wells Fargo ( NYSE:WFC ).
For one thing, the bank reported earnings of 72 cents per share, which was right in line with expectations. That was a record high. The bank also reported that credit quality improved, as net lo
Citi CEO strikes a conciliatory tone
With Bank of America CEO Brian Moynihan beset with issues and JPMorgan Chase CEO Jamie Dimon increasingly combative about regulatory overkill, Citigroup CEO Vikram Pandit has gone on something of a media tour, sounding positively reasonable.
He have given a series of interviews in which he has
Are we near the bottom for bank stocks?
Value investors have been burned before on financial stocks, especially the big commercial bank stocks and the likes of Fannie Mae. It's so tempting to believe that the selling is overdone when they drop so precipitously. But would buying in now be to commit the same mistake that the likes of Bill
Moynihan announces more Bank of America job cuts
Last month, Bank of America announced plans to cut about 3,500 jobs. People speculated that ultimately, the bank would slash about 10,000 jobs, which seemed like a huge number.
Now comes word from the Charlotte Observer that CEO Brian Moynihan, who is under a lot pressure from shareholders
Robert Kelly out as CEO of Bank of New York Mellon
Not too long ago, Robert Kelly was a star in the banking industry. In 2009, he was sought by the Bank of America board to become their next CEO, though the negotiations quickly fell apart. That same year, Kelly was named one of the best CEOs in America by Institutional Investor . In 2010, he ma
Financial services industry adoption of GRC systems disappoints
If there's one industry that seems tailor made for more rigorous adoption of formal GRC programs, it would be the banking industry.
The imperative is extreme at all levels--governance, risk management and compliance. You would think that this would lead to aggressive action at the IT level as
Capital One to buy ING Direct, join top ranks of banks
Capital One has moved aggressively into the consumer banking industry over the past few years, gobbling up small to medium-sized bank companies in the South and Northeast and in its home region of Washington DC. And yet we still tend to see it as credit card company, a testament to the staying pow
