Hints and tips:
...Wells Fargo’s bank analyst Mike Mayo has a well-deserved (if not entirely unblemished) reputation for being an unusually acerbic member of the “great quarter guys!” industry....
...Several banks, including Barclays and Wells Fargo, have partnered with asset managers to establish a toehold in private credit....
...Chang’s and business technology provider Computer Services Inc....
...Fargo, Washington Post)....
...Banks led by Goldman Sachs and JPMorgan Chase and including Citigroup, Wells Fargo, UBS and Deutsche Bank are arranging $8.4bn in loans to finance the deal, sources told the FT....
...Commenting on Apple’s next moves in banking, he adds: “This will take five to 10 years, but by then we’ll think of Apple in the same vein as Citi, JPMorgan and Wells Fargo.”...
...The Fed and the FDIC had previously identified shortcomings in the 2019 living wills for Citi as well as Bank of America, BNY Mellon, Citi, Morgan Stanley, State Street and Wells Fargo....
...On the other will be a health insurance giant. A couple of decades ago, that fight would’ve been totally uneven. Most ER medics were employed by co-operatives run by the doctors themselves....
...Citi plans to keep its relatively small US retail deposit business — it has 689 branches, compared with 4,000 or more at JPMorgan, BofA and Wells Fargo — while operating a consumer business that will continue...
...“She is going to have to deliver more shareholder value than has been delivered since the creation of Citigroup a couple of decades ago,” said Mike Mayo, bank analyst at Wells Fargo and a longtime critic...
...Bank of America, Citigroup and Wells Fargo together provided another $1.2tn of lines, while Morgan Stanley and Goldman Sachs had a combined $260bn, regulatory filings show....
...Wells Fargo, Citigroup and Morgan Stanley, whose audit contracts collectively came to $155m last year, declined to comment....
...“The CEO makes a million and a half dollars a month, and will continue to make a million and a half by maintaining the status quo,” says Wells Fargo analyst Mike Mayo, a longtime critic of the bank....
...Fargo chief executive’s chair....
...And it has a history of throwing an arm around chief executives — as at Goldman Sachs or Wells Fargo — when they really need it....
...Berkshire disclosed that its four other largest holdings remained American Express, Bank of America, Coca-Cola and Wells Fargo, and that it had trimmed its fixed income holdings — including its ownership...
...Wells Fargo, BNP Paribas and Deutsche Bank are also joining the initiative, which aims to improve the technology used in the sale of bonds....
...• Wells Fargo Asset Management has expanded its multi-asset solutions team....
...“A series of issues that fell within the financial reporting function have been a source of investor frustration,” said Sean Dargan, analyst at Wells Fargo Securities....
...Wells Fargo fake account scandal: All the big banks have had trouble at some point and I see no reason why Wells Fargo as a company from both an investment standpoint and a moral standpoint is in any way...
...Fully 91 per cent of Wells Fargo shareholders approved the Big Four firm’s reappointment last month, despite another Glass Lewis call for change at the bank, which has been hit by scandals involving fake...
...Annual interest rates on instant-access savings accounts at the top four US banks by deposits, for example — JPMorgan Chase, Bank of America, Wells Fargo and Citi — presently average less than four basis...
...Fargo Securities on financials; Wachtell, Lipton, Rosen & Katz and Latham & Watkins on the legal; Joele Frank on PR)....
...• Wells Fargo Asset Management is expanding its multi-asset solutions team. Peter Weidner and Mark Brandreth join as head of factor solutions and senior portfolio manager respectively....
...Then there’s the auto insurance matter....
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