Perhaps the biggest test that Charles Scharf will face when he starts next week will be how to control expenses while still trying to make the necessary investments in risk management to satisfy regulators.
Its quarterly results show lower rates and emerging credit risks can be overcome. Whether most banks have all the same levers to pull is another matter.
During the firm's earnings conference call, Chairman and CEO David Solomon attempted to reassure investors about the costs of Marcus, declining to say when the investment bank might break even on the initiative.
JPMorgan Chase had the cash and willingness to calm short-term funding markets when they went haywire in mid-September, but the banking giant said regulations held it back.
Warren Buffett's Berkshire Hathaway is seeking permission from the Federal Reserve to potentially increase its stake in Bank of America to more than 10%, a level that often triggers a regulatory review.
