Berkshire Hathaway plowed $13 billion into bank stocks in the third quarter that included new investments in JPMorgan and PNC and additional investments in Bank of America and Goldman Sachs.
A shifting C&I landscape, heated competition for deposits and red flags in consumer lending also took center stage in often testy exchanges between bankers and analysts on quarterly earnings calls.
Earnings were bolstered by lower taxes and higher asset-servicing fees, but revenue was flat and analysts raised concerns about a shrinking deposit base.
BNY Mellon snags tech exec from Bank of America as CTO; dissent spreads at CFPB over top aide's writings; Anne Finucane ready to lead BofA's European operations; and more from this week's most-read stories.
The 2018 Most Powerful Women in Banking festivities kicked off Wednesday night with cocktails and conversation at the Alley Cat Amateur Theater in New York's Financial District.
BNY Mellon, JPMorgan and Bank of America are recruiting interns from Year Up, many of whom lack college degrees but are trained in high-demand fields such as cybersecurity and anti-money-laundering.
They are disinclined to talk about it much yet, but the big three trust banks as well as JPMorgan and Goldman are said to be mulling custody services that would help shield wealthy bitcoin investors from theft. Here are the selling points and the risks.
Kathy Kraninger emerges “unscathed” in testy Senate confirmation hearing; the bank is reportedly refunding money it charged customers for add-on services.