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...I didn’t spend my whole life trying to be a CEO of a bank,” he said. “So I’m not going to spend the rest of my life continuing to be CEO of a bank.”...
...Thwaite’s simplification drive has already led to NatWest scaling back the number of meeting forums and the size of the chief’s support team. With additional reporting by Patrick Jenkins in London...
...patrick.jenkins@ft.com Letters in response to this column: Insurers and banks don’t fail due to lack of capital / From John Murray, Guildford, Surrey, UK Subjecting Basel rules to a bit of cost-benefit...
...patrick.jenkins@ft.com...
...The Bank of England’s financial stability committee met today, and the subsequent report indicates that it remains antsy about the engorged size of Treasury basis trades....
...For the bank and its new CEO, and ultimately the country, that can only be a good thing.` patrick.jenkins@ft.com Letter in response to this article: Why government must sell its NatWest stake / From Pete...
...patrick.jenkins@ft.com Letter in response to this column: One flaw of the Bazalgette sewers we live with today / From Sam Dunkley, London W8, UK...
...This isn’t a wholly European problem — BCG’s study shows the low valuation problem afflicts more than a third of American banks and nearly all banks in parts of Asia....
...Bank of America, the nation’s second-largest lender, said as it reported results on Tuesday that new loan growth stalled in the quarter, with BofA’s chief financial officer Alastair Borthwick calling lending...
...patrick.jenkins@ft.com Letter in response to this article: Meloni government swims against the tide of history / From Jon Johannessen, Venice, CA, US...
...Bank of America cut the compensation of its top executive Brian Moyniahn by 3 per cent, or $1mn to $29mn in 2023, a year when the company’s bottom line shrunk and its stock lagged rivals....
...risk niche that gave banks an extra buffer of capital — was done for....
...“The banks came together,” he said, without specifying what measures the organisation would need to implement to restore its financial health....
...Patrick Jenkins (“Basel III leaves banks with weak points on both sides of Atlantic”, Inside Business, March 19) covers an impressive landscape well....
...has a great deal of art, and America has a great deal of money.”...
...“Growing the wealth business is a strategic priority,” chief executive Jane Fraser wrote on LinkedIn last month, as she welcomed Andy Sieg to Citi after a long career at arch rival Bank of America’s Merrill...
...Bank of America has sent “letters of education” to employees who have not been showing up at the office, warning them of disciplinary action, in the latest move from a large company to push staff back to...
...In “Basel III leaves banks with weak points on both sides of Atlantic” (Inside Business, March 19) Patrick Jenkins has written a very good article pointing out the hazards of the dreaded doom loop and the...
...— a bank where it is also the controlling owner....
...Third-quarter profits at Bank of America beat expectations, but growth lagged rivals because the bank still has hundreds of billions of dollars of low yielding bonds that it bought during the pandemic....
...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...
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