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...Citigroup cut 5,000 jobs, Morgan Stanley shed 4,800, Bank of America 4,000, Goldman Sachs 3,200 and JPMorgan Chase 1,000. Collectively, the big Wall Street banks cut at least 30,000 staff in 2023....
...It is working on its approach with advisers from JPMorgan Chase, Citigroup and BNP Paribas, people close to the situation said. The banks declined to comment....
...Shares in Citi fell 1.7 per cent on Friday, but less than those of rival JPMorgan Chase, which ended the day 6.5 per cent lower....
...We knew that store closures were a risk, and the shrink-to-grow decision looks smart, but knowing when a restructuring plan will pay off is tricky. Stock picking is hard....
...A majority of shareholders ended up voting against the pay plan for the first time in a non-binding “say on pay” vote at the bank’s annual investor meeting in 2022....
...Rivals JPMorgan Chase, Morgan Stanley and Goldman have also raised their chief executives’ 2023 pay....
...But banks led by JPMorgan Chase lobbied hard to underwrite a financing over the past four months....
...In US banks overall, the proportion of deposits on which banks pay some sort of interest has risen to around 70 per cent from 65 per cent a year earlier; JPMorgan only pays interest on around 55 per cent...
...Wells plans to provide a similar offering starting in 2024....
...Chase, Bank of America, Wells Fargo and Citigroup, according to a Bloomberg analysts’ consensus....
...JPMorgan Chase, the largest US bank by assets with sprawling retail, investment banking and trading operations, is the one big bank bucking the trend....
...JPMorgan Chase shareholders rejected an attempt to create an independent chair in 2013 in the wake of $6bn in trading losses as a result of the “London Whale”....
...But for those in Miami for JPMorgan Chase’s annual credit conference this week, nothing was more enticing than a panel discussion on liability management exercises....
...One Musk drama to start: Four former top executives at X, including ex-chief executive Parag Agrawal, are suing Elon Musk for more than $128mn in severance pay that they allege the billionaire owner of the...
...JPMorgan Chase chief executive Jamie Dimon has warned that US inflation and interest rates could remain higher than markets expect because of high government spending....
...BlackRock, Franklin Templeton, T Rowe Price, State Street and JPMorgan Chase are among those working on new products aimed at helping retirees with what is known as “decumulation”, a process that economist...
...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....
...JPMorgan Chase chief executive Jamie Dimon last year argued that the proposals risked making US bank stocks uninvestable....
...In total, JPMorgan Chase analysts estimate the whole Signa Group to owe more than €13bn....
...Definitely not JPMorgan’s Chase UK....
...By contrast, Wall Street banks Goldman Sachs, JPMorgan Chase and Morgan Stanley have all awarded their chief executives with pay rises....
...And one thing to start: JPMorgan Chase chief executive Jamie Dimon has shuffled his leadership team and consolidated some of the bank’s businesses, grooming potential candidates who could eventually take...
...JPMorgan Chase said earnings from its lending business would continue to increase this year on the back of higher interest rates as the largest US bank reported a jump in profits in the second quarter....
...Dimon said the US plan as written would mean JPMorgan would have to hold 30 per cent more capital than a European bank....
...JPMorgan Chase paid longtime chief Jamie Dimon a record $36mn last year, up about 4 per cent from the previous year....
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