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...Wells Fargo took a hit after another City office sale was agreed in October, according to React News, and two Canary Wharf buildings entered receivership earlier this year....
...It aims to do away with the services of a centralised intermediary, such as a bank or an exchange, to carry out trusted tasks such as decision-making and record-keeping, and hand the jobs over to a broader...
...Bank of America, Barclays, Citigroup, Jump Trading, JPMorgan Chase, Morgan Stanley, Tower Research Capital and Wells Fargo are also investing in FMX....
...Larger banks such as JPMorgan Chase, Bank of America and Wells Fargo also saw their profits fall in the final quarter of 2023....
...Grab your popcorn, the European Central Bank’s gone studs-up on the Securities & Exchange Commission....
...Look out the first of the large financial groups reporting their results, including JPMorgan, Citi, State Street, Wells Fargo and BlackRock on Friday....
...The anti-French backlash is also affecting US security operations. American troops will temporarily leave Chad after a disagreement with N’Djamena....
...Franklin Templeton is lukewarm but likes “naturally diversifying ‘alternatives’ such as private assets” RBC Capital Markets has a Q&A. “The time to pivot will come in due course,” says Wells Fargo....
...So that’s basically for big banks that take in lots of deposits like JPMorgan or Wells Fargo. That’s really where they make a lot of their profits from....
...Job moves Wells Fargo has hired Fernando Rivas to run its corporate and investment bank alongside Jon Weiss, The Wall Street Journal reports. He previously worked for JPMorgan....
...It is a view that he has maintained as SEC chair. Gensler describes crypto as a “wild west” but argues that existing securities laws are clear and new rules tailored to digital assets are unnecessary....
...You’ve got the very, very biggest banks, JPMorgan, Bank of America’s Wells Fargo that have been making a lot of money....
...Some of the world’s biggest banks — Morgan Stanley, Wells Fargo and Bank of America — are all reportedly lining up to get involved in bitcoin, too....
...And then you have a bunch of banks that have smaller exposures: Morgan Stanley, Goldman Sachs, Wells Fargo. So this really sort of spreads across Wall Street and heads actually do roll....
...As the Financial Times reported, that is more than double the increase of the next bank, Wells Fargo, which reported a 16.5 per cent rise....
...Here’s what else I’m keeping tabs on today: Earnings: The major US banks begin reporting earnings today, with JPMorgan, Citi and Wells Fargo all updating investors....
...Apollo established Financial Credit Investment I (“FCI I”) in 2010 coming out of the GFC as a vehicle to acquire pools of life settlements and other insurance-linked securities from banks and other large...
...In the past year delinquent commercial property debt for the six big banks — JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, Goldman Sachs and Morgan Stanley — nearly tripled to $9.3bn....
...Profits at Wells Fargo fell from $5bn to $4.6bn. Private equity pioneer KKR is predicting a revival in global IPOs and takeover activity after a two-year slowdown....
...And it’s a similar story at other US banks. Wells Fargo says its net interest spread is 3.1 per cent, but it would be 2.39 per cent without the non-interest liabilities, of which $383bn are deposits....
...Read the full FT analysis, including the biggest cutters, from Wells Fargo to JPMorgan Chase. Five more top stories 1....
...“That is probably the biggest opportunity as well as challenge [for Pick],” said Gerard Cassidy, a banks analyst at RBC Capital Markets....
...as the largest US bank by almost every measure....
...capability centres, including a 30,000-person unit for American bank Wells Fargo....
...Proprietary traders such as DRW and Jump Trading, as well as hedge funds, took their place as the biggest daily traders....
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