Proposals to split the chairman and CEO roles at banks have rarely succeeded. But new developments — including a proposal to require separate roles for the next generation of managers — are helping concerned shareholders slowly make inroads.
The largest U.S. banks are treading lightly in response to President Trump's executive order banning travel to the U.S. by refugees and others from certain Muslim nations. Corporate statements emphasize the need for diversity while stopping short of outright opposition.
JPMorgan Chase, Bank of America and PNC reported lackluster revenue growth as higher trading fees and increases in commercial lending barely compensated for consumer-side challenges.
Simple innovations -- such as those that would bring the underbanked into the financial mainstream -- are often stymied by regulation, says Bank of America CEO Brian Moynihan.
