Patrick Cantlay of the United States plays his shot from the 18th tee during the final round of the Workday Charity Open on July 12, 2020 at Muirfield Village Golf Club in Dublin, Ohio. Sam Greenwood | Getty Images Goldman Sachs paid professional golfer Patrick Cantlay more than $1 million annually in a sponsorship deal … Read more
CEO of Citigroup Jane Fraser testifies during a hearing before the House Committee on Financial Services at Rayburn House Office Building on Capitol Hill on September 21, 2022 in Washington, DC. Alex Wong | Getty Images When Citigroup CEO Jane Fraser announced in September that her sweeping corporate overhaul would result in an undisclosed number … Read more
The largest American banks have been quietly laying off workers all year — and some of the deepest cuts are yet to come. Even as the economy has surprised forecasters with its resilience, lenders have cut headcount or announced plans to do so, with the key exception being JPMorgan Chase, the biggest and most profitable … Read more
David Solomon, chief executive officer of Goldman Sachs Group Inc., at the Goldman Sachs Financial Services Conference in New York, Dec. 6, 2022. Michael Nagle | Bloomberg | Getty Images Goldman Sachs is scheduled to report third-quarter earnings before the opening bell Tuesday. Here’s what Wall Street expects: Earnings: $5.31 a share, according to LSEG, … Read more
Jamie Dimon, Chairman of the Board and Chief Executive Officer of JPMorgan Chase & Co., gestures as he speaks during an interview with Reuters in Miami, Florida, U.S., February 8, 2023. Marco Bello | Reuters American banks are closing out another quarter in which interest rates surged, reviving concerns about shrinking margins and rising loan … Read more
Federal Reserve Board Chair Jerome Powell speaks during a news conference following a Federal Open Market Committee meeting at the Federal Reserve in Washington, D.C., on July 26, 2023. SAUL LOEB | Getty Violent moves in the bond market this week have hammered investors and renewed fears of a recession, as well as concerns about … Read more
Lower-end consumers have shifted buying patterns to save money as their bank accounts dwindle in size, according to Citigroup CEO Jane Fraser. The third-largest U.S. bank by assets has been monitoring its credit card customers for signs of distress, Fraser told CNBC’s Sara Eisen on Friday in an interview. “We are paying attention to the … Read more
Martin Gruenberg, appearing chairman of the Federal Deposit Insurance coverage Corp. (FDIC), speaks throughout an City Institute panel dialogue in Washington, D.C., on Friday, June 3, 2022. Ting Shen | Bloomberg | Getty Photographs U.S. regulators on Tuesday unveiled plans to drive regional banks to problem debt and bolster their so-called dwelling wills, steps meant … Read more
JPMorgan Chase & Co. headquarters in New York, US, on Wednesday, Jan. 18, 2023. Gabby Jones | Bloomberg | Getty Photos JPMorgan Chase reduce about 500 positions this week, largely amongst know-how and operations teams, in line with folks with information of the transfer. The cuts have been unfold throughout the New York-based agency’s important … Read more
James Gorman stated Friday he plans to resign as Morgan Stanley’s CEO inside the 12 months, setting off a succession race atop one in every of Wall Road’s dominant companies. The financial institution’s board has narrowed its CEO search to 3 “very sturdy” inner candidates, Gorman informed shareholders on the New York-based agency’s annual assembly. … Read more