Banking feed

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Bank of America Corp
Business Times· 21 Jan 2022

Bank of America’s job cuts offer a road map for navigating higher cost

[NEW YORK] The biggest US banks received a clear message in recent days: Runaway expenses won’t cut it.

  • Cost Cutting
  • Layoffs
  • Bank of America Corp
  • News Websites
  • News Articles
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Bank of America Corp
Barrons· 21 Jan 2022

BofA Realigns Leadership Roles in Wealth Management Unit

Bank of America is realigning some leadership positions and expanding the responsibilities assigned to Andy Sieg, president of Merrill Lynch Wealth Management, and Katy Knox, president of the Private Bank. Sieg and Knox will now also oversee units delivering key investment, lending, and trust services.

  • Management Changes
  • Bank of America Corp
  • News Websites
  • News Articles
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Bank of America Corp
Latestly· 20 Jan 2022

Bank of America Reported a Better-than-expected 30% Jump in Quarterly Profit, Driven by ... - Latest Tweet by Reuters

Bank of America reported a better-than-expected 30% jump in quarterly profit, driven by loan growth as well as record-breaking M&A volumes, while Morgan Stanley outperformed rivals as its focus on advising wealth clients bore fruit https://t.co/RS5fN7U9d2 $BAC $MS pic.twitter.com/04cniVjKZT — Reuters (@Reuters) January 20, 2022 (SocialLY brings you all the latest breaking news, viral trends and information from social media world, including Twitter, Instagram and Youtube.

  • Financial Results
  • Bank of America Corp
  • News Websites
  • News Articles
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Wells Fargo & Co
Wf· 20 Jan 2022

Wells Fargo Confirms Termination of OCC Add-On Products Consent Order

Share Wells Fargo today confirmed that the Office of the Comptroller of the Currency (OCC) terminated its June 3, 2015 consent order regarding add-on products that the company sold to retail banking customers before 2015. Exterior of Wells Fargo branch.

  • Regulatory and Legal
  • Wells Fargo & Co
  • Company Websites
  • Press Releases
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Bank of America Corp
Crain's Cleveland Business· 20 Jan 2022

Bank of America's dual Ohio, Cleveland president joins Ohio Bankers League board

The Ohio Bankers League trade group has announced the election of Jeneen Marziani, who dually serves as the Cleveland and Ohio market president for Bank of America, to its board of directors for 2022. "Comprised of bank executives from across the state, the Ohio Bankers League (OBL) Board serves as the governing body for the professional trade association representing all Ohio banks and savings institutions," the OBL said in a statement.

  • Management Changes
  • OHIO BANKERS LEAGUE
  • Bank of America Corp
  • News Websites
  • News Articles
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American Express Company
American Express· 20 Jan 2022

New U.S. Consumer Platinum Card® Designs by Kehinde Wiley and Julie Mehretu Are Now Available

To bring art into the everyday, U.S. Consumer Platinum Card® Members can now choose one of the two new Art x Platinum designs, in addition to the classic Platinum Card® design. Reimagined by world renowned artists, Kehinde Wiley and Julie Mehretu, Platinum Card Members can now carry a piece of art everywhere they go while enjoying the Card’s unique travel & lifestyle benefits and experiences.

  • New Offerings
  • American Express Company
  • News Websites
  • Press Releases
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Credit Suisse Group AG
Business Wire· 20 Jan 2022

CMG Completes Strategic Financing and Expands Global Partner Network as it Launches Industry’s First Connected ECM Network

Capital Markets Gateway LLC (CMG), a fintech firm modernizing the equity capital markets (ECM), is expanding its global network of partners with Bank of America and Credit Suisse joining as investors and clients.

  • Partnerships and Alliances
  • ESG
  • Capital Markets Gateway LLC.
  • Credit Suisse Group AG
  • Bank of America Corp
  • Press Release Agencies
  • Press Releases
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Wells Fargo & Co
Business Wire· 20 Jan 2022

Wells Fargo Innovation Incubator Announces 2022 Channel Partner Strategic Awards Supporting Network of Cleantech Startups

Today, the Wells Fargo Innovation Incubator (IN2), a technology incubator and platform funded by the Wells Fargo Foundation and co-administered by the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL), announced seven winners for its sixth cycle of Channel Partner Strategic Awards.

  • Awards and Recognitions
  • Wells Fargo & Co
  • Press Release Agencies
  • News Articles
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Bank of America Corp
Diginomica· 20 Jan 2022

Bank of America sees strong results as digital platform delivers growth

(Image sourced via Bank of America ) Bank of America's technology investments continue to deliver returns, as growth in usage across all platforms continues to soar. The Bank's leadership team point to digital capabilities as being key to its success, as the organization's fourth quarter results defied industry trends.

  • Financial Results
  • Bank of America Corp
  • News Websites
  • News Articles
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American Express Company
Pymnts· 20 Jan 2022

Amex Teams With Artists for New Platinum Card Designs

American Express is adding more art to its high-end Platinum cards, Bloomberg reported Thursday (Jan. 20). Platinum cardholders can now select designs by the artists Kehinde Wiley or Julie Mehretu, or they can choose one of the classic designs for their card, which goes for $695 per year.

  • Partnerships and Alliances
  • New Offerings
  • American Express Company
  • News Websites
  • News Articles
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Citigroup Inc
Bilyonaryo· 20 Jan 2022

Moody’s revises UnionBank outlook to negative after P55B deal with Citi

Moody’s has downgraded Union Bank of the Philippines’ outlook from stable to negative following the Aboitiz lender’s announcement of its acquisition of Citi’s retail banking business in the country.

  • M&A Activities
  • Negative News
  • Citigroup Inc
  • Union Bank of the Philippines
  • HighMark Capital Management
  • Company Websites
  • News Articles
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Wells Fargo & Co
Dakota Financial News· 20 Jan 2022

Wells Fargo & Company Begins Coverage on Lithia Motors (NYSE:LAD)

Analysts at Wells Fargo & Company started coverage on shares of Lithia Motors (NYSE:LAD) in a research note issued to investors on Tuesday, Price Targets.com reports. The brokerage set an “overweight” rating and a $345.00 price target on the stock.

  • Financial Results
  • Wells Fargo & Co
  • Lithia Motors, Inc.
  • News Websites
  • News Articles
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Bank of America Corp
Financial Planning· 19 Jan 2022

Merrill’s strong year helps Bank of America close 2021 with a slate of new records

Bank of America’s wealth management business is once again giving the Wall Street giant plenty to celebrate heading into the new year. The company reported $7 billion in net income in the fourth quarter, representing a 28% percent increase from the $5.5 billion reported a year ago, according to earnings statements released Wednesday morning.

  • Financial Results
  • Bank of America Corp
  • News Websites
  • News Articles
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U.S. Bancorp
American Banker· 19 Jan 2022

U.S. Bancorp says Union Bank deal on track for first-half close

U.S. Bancorp expressed confidence Wednesday that its pending acquisition of MUFG Union Bank will be completed during the first half of this year, which is in line with the deal’s original timeline. Chairman and CEO Andy Cecere told analysts that the $8 billion cash-and-stock purchase might close “later in the first half,” followed by a systems conversion late in the third quarter or early in the fourth quarter.

  • M&A Activities
  • U.S. Bancorp
  • HighMark Capital Management
  • News Websites
  • News Articles
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Wells Fargo & Co
Bloomberg Law· 19 Jan 2022

Wells Fargo Manager Ends Disability Bias, Leave Retaliation Suit

Wells Fargo Bank NA and a manager who said he was included in a corporate downsizing because he had been injured in a car accident agreed to the dismissal of his lawsuit, Pennsylvania federal court records show.

  • Regulatory and Legal
  • Negative News
  • Wells Fargo Bank NA
  • Wells Fargo & Co
  • News Websites
  • News Articles
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American Express Company
Sportbusiness· 19 Jan 2022

American Express extends PGA Tour event title sponsorship through 2028

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  • Events
  • American Express Company
  • News Websites
  • News Articles
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Bank of America Corp
City A.M· 19 Jan 2022

Bank of America profits climb on loan demand soaring amid US economic recovery

Bank of America profits climb on loan demand soaring amid US economic recovery The American banking titan registered a 28 per cent rise in net income, jumping to $7bn in the final three months of last year, it announced today (Photo by Justin Sullivan/Getty Images) Wall Street giant Bank of America has reaped a windfall generated by American consumers and businesses taking on loans amid a booming economic recovery.

  • Financial Results
  • Bank of America Corp
  • News Websites
  • News Articles
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American Express Company
Coinspeaker· 19 Jan 2022

Mastercard Joins Hands with Coinbase to Revolutionize Customer’s NFT Experience

Apart from Mastercard, a lot of its competitors like Visa and American Express are too entering into multiple partnerships with crypto firms. The burgeoning NFT popularity over the last year has made sure mainstream payment giants and intermediaries are in the pursuit of bettering their consumer’s experience.

  • Partnerships and Alliances
  • American Express Company
  • News Websites
  • News Articles
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Gillette Co
Gillettenewsrecord· 19 Jan 2022

Bank of America profits rise 28%, wage expenses up too

Bank of America said its profits rose 28% last quarter from a year earlier, but the bank faced the same wage inflation as its Wall Street counterparts. The bank said Wednesday that it earned a profit of $7.01 billion, or 82 cents per share, in the fourth quarter. That's up from a profit of $5.47 billion, or 59 cents a share, in the same period a year earlier. Analysts surveyed by FactSet were expecting the bank to post a profit of 77 cents a share.

  • Financial Results
  • Gillette Co
  • Bank of America Corp
  • News Websites
  • News Articles
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Amex Exploration Inc.
Amex Exploration· 19 Jan 2022

AMEX Announces Upsize of Bought Deal Private Placement to C$43 Million

Amex Exploration Inc. (“Amex” or the “Company”) is pleased to announce that due to strong investor demand, the Company has entered into an amendment agreement with PI Financial Corp. (“PI Financial”), pursuant to which to which a syndicate of underwriters led by PI Financial (collectively, the "Underwriters") have agreed to increase the size of the previously announced bought deal private placement to an aggregate of 8,950,000 flow-through shares (the “Flow-Through Shares”) at a price per Flow-Through Share of C$4.82 (the “Issue Price”), for gross proceeds of C$43,139,000 (the "Offering").

  • Funding Activities
  • Amex Exploration Inc.
  • American Express Company
  • Company Websites
  • Press Releases
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JPMorgan Chase & Co.
Yahoo· 19 Jan 2022

United Capital Management of KS, Inc. Buys Alphabet Inc, Truist Financial Corp, JPMorgan Chase, ...

Investment companyUnited Capital Management of KS, Inc.(Current Portfolio) buys Alphabet Inc, Truist Financial Corp, JPMorgan Chase, NRG Energy Inc, SPDR Portfolio Short Term Corporate Bond ETF, sells ETFMG Prime Junior Silver Miners ETF, Verizon Communications Inc, Marvell Technology Inc, AMC Entertainment Holdings Inc, Where Food Comes From Inc during the 3-months ended 2021Q4, according to the most recent filings of the investment company, United Capital Management of KS, Inc..

  • M&A Activities
  • JPMorgan Chase & Co.
  • Truist Financial
  • Alphabet Inc
  • United Capital
  • News Websites
  • News Articles
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Bank of America Corp
Bloomberg· 19 Jan 2022

Bank of America and Morgan Stanley Buck the Cost Trend

Higher interest rates might be good for bank profits, but inflation has still been a shock for bank investors in recent days. Bank of America and Morgan Stanley offered some respite from the story of rising pay and other costs on Wednesday, however, reporting less of a jump in the fourth quarter than that of most big rivals.

  • Financial Results
  • Bank of America Corp
  • Morgan Stanley
  • News Websites
  • News Articles
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Bank of America Corp
Baystreet (ca)· 19 Jan 2022

Bank of America Rakes it in During Q4

Bank of America (NYSE:BAC) on Wednesday topped analysts’ estimates for profit on record asset management and investment banking fees and the release of $851 million in loan loss reserves. Earnings came in at 82 cents a share vs.

  • Financial Results
  • Bank of America Corp
  • News Websites
  • News Articles
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Bank of America Corp
Cloudfront· 19 Jan 2022

Fourth Quarter 2021 Earnings Presentation

Record full year net income of $32.0B on revenue of $89.1B; diluted earnings per share of $3.57

  • Financial Results
  • Bank of America Corp
  • Company Websites
  • Press Releases
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Wells Fargo & Co
Financial Planning· 18 Jan 2022

Wells Fargo heading into 2022 with fewer advisors, more confidence after big Q4 earnings

Wells Fargo ended 2021 with fewer advisors in the room, more cash in its coffers and a whole lot of confidence heading into the new year. The bank’s Wealth and Investment Management unit lost a total of 1,146 registered representatives from either Wells Fargo Advisors or its Private Bank over the past 12 months, according to the firm’s fourth-quarter earnings statement released Jan.

  • Financial Results
  • Wells Fargo & Co
  • News Websites
  • News Articles
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