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Showing results for Franklin v. Wells Fargo & Company
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...JPMorgan Chase, Wells Fargo and Citigroup all reported first-quarter earnings on Friday and warned that the future looks a little rocky. I’m joined now by the FT’s Josh Franklin to talk about it....
...But banks are finally having to pass on higher savings rates to depositors, according to JPMorgan and Wells Fargo, which also reported earnings....
...Over the past two years, big banks such as JPMorgan Chase, Bank of America, Citigroup and Wells Fargo charged more for loans in lockstep with the Fed lifting interest rates, without passing on the increase...
...You’ve got the very, very biggest banks, JPMorgan, Bank of America’s Wells Fargo that have been making a lot of money....
...“The disclosures of Goldman after it became public would be laughable if it wasn’t so awful for investors,” said Mike Mayo, research analyst at Wells Fargo who has tracked Goldman’s stock for around two...
...But it jumped 34 per cent at JPMorgan to $89.7bn, more than double the increase of the next bank, Wells Fargo, which reported a 16.5 per cent rise....
...Wells Fargo alone said it spent more than $1bn on unexpected job cuts in the fourth quarter....
...companies and then listing or selling minority stakes....
...Despite this, in recent days executives from the country’s four largest banks — JPMorgan Chase, Bank of America, Citigroup and Wells Fargo — said during earnings calls that consumers were resilient....
...This was up 32 per cent from a year earlier, although still well below the peak achieved during the pandemic-era boom in dealmaking....
...Dimon, 68, who as head of the largest US bank by assets often uses his public remarks to opine on issues well beyond Wall Street, said he was surprised that geopolitical tensions had not had a bigger impact...
...In 2021, JPMorgan leapfrogged Wells Fargo as the bank with more branches than any other in the US....
...Net new assets in wealth were around $95bn, well ahead of expectations for $62bn. Morgan Stanley has set a long-term goal of amassing more than $10tn in client assets....
...Dimon warned that recent geopolitical events “may very well be creating risks that could eclipse anything since world war two”, pointing to Russia’s full-scale invasion of Ukraine and the current violence...
...“If Jamie Dimon left tomorrow, I do think the stock would decline 5 per cent,” said Mike Mayo, a longtime banking analyst at Wells Fargo who is known for sparring with bank executives in earnings calls....
...“He’s a very dominant chair,” said a person who knows Tucker well....
...They contend that highly paid professionals are well-positioned to negotiate fair remuneration for giving up some of their freedom....
...All of the nation’s largest lenders, including Bank of America, JPMorgan and Wells Fargo, submitted letters, none of which discussed share buybacks or dividends....
...They really did open a wide gap with its competitors that also reported earnings on Friday, with Citi, Wells Fargo and Bank of America....
...Morgan Stanley’s wealth management business is mainly made up of US customers but its international business has been an area of growth, hiring money managers from the likes of Credit Suisse and Wells Fargo...
...A scion of the well-known British banking dynasty, he joined NM Rothschild after university....
...He grew the economy quite well. Trade tax reform worked. He was right about some of China,” Dimon said....
...Wells Fargo and Truist have strong businesses serving lawyers outside Manhattan, but Citi’s private bank dominates the market among New York’s attorneys, having launched a dedicated team to serve them more...
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