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...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....
...“We expect to see growth slowing globally with the US well positioned to withstand a run-of-the-mill recession should one materialise.”...
...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...
...(FT) Allen & Overy rolls out AI contract negotiation tool in challenge to legal industry (FT) Wells Fargo branch workers vote to form union in a first for major US bank (FT) Barclays agrees deal to stay...
...So one would not expect to see a handful of banks take most of a market, and for one bank to dominate that handful. How has JPMorgan done it?...
...The move is the latest attempt by JPMorgan to beef up its legal wealth management business after two decades of trying to break the grip of Citi in New York, as well as that of Wells Fargo, which dominates...
...This month, US homebuilder confidence slipped for the first time this year according to an index compiled by the National Association of Home Builders and Wells Fargo....
...But it took someone who had a different vision. And they decided, well, we'll do the merger first, and the world's going to change for us. And they were right....
...’d had retail banks that have your savings account and makes you a mortgage....
...JPMorgan, Citi and Wells Fargo report earnings on Friday, followed by Bank of America on April 18....
...For one thing, the sharp rise in mortgage rates has put a lid on banks’ home-lending businesses....
...Letters in response to this article: Central banks can help restore trust in crypto / From Gordon Ng, Year 11 student, King George V school, Hong Kong Please let’s not mix up crypto and blockchain / From...
...One thing to start: The Phoenix Suns are on track to set a record price for the sale of a National Basketball Association franchise, with mortgage lending billionaire Mat Ishbia nearing a $4bn deal to acquire...
...Morgan Stanley veteran Jeff Hogan has joined Wells Fargo as co-head of global mergers and acquisitions....
...(But those funds don’t have as much credit risk as a high-yield bond fund, and even then, high-yield bond funds have more duration risk than bank-loan funds. Simple, right?)...
...“Jane Fraser puts an end to a failed 50-year vision,” Mike Mayo, Wells Fargo bank analyst, said when the sales were announced last year....
...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...
...Incidentally, a plethora of media outlets (inc....
...to add some meat on to her radical vision....
...It is “a decade overdue”, said Mike Mayo, a banking analyst at Wells Fargo, who has long been critical of Citi’s strategy....
...Take Ellington, one of the oldest and biggest dedicated credit hedge funds, having been set up in 1994 by Michael Vranos, a former superstar mortgage bond trader at Kidder Peabody....
...“Being well capitalised as a start-up when you take on the biggest companies in the world tends to be a good strategy.”...
...described as “nirvana” by the head of trading at one large bank....
...High-profile cases include the collapse of fraudulent German payments company Wirecard, Wells Fargo’s fake accounts scam and Danske Bank’s Russian money-laundering scandal....
...ESG was becoming a tool of risk management as well as activism. To some, this made ESG hypocritical....
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