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Plus, the corporate fiasco involving a royal carpet maker and a Nomura banker gets stuck in China
Lender is cutting jobs and hacking back top-heavy management structure
Chief executive sets out new management structure and warns of job losses
Third-largest US lender’s Bridge network likened to a dating app for modest-sized loans
A proposed new structure is already the norm at other Wall Street banks
Institutional Clients Group would disappear in most significant shake-up of past 15 years
Shrinking stock markets and an especially wide valuation gap between bonds and shares made the trend inevitable
Departure of top executive comes amid restructuring by chief executive Jane Fraser
Earnings from BofA, PNC and BNY Mellon point to headwinds for net interest income
Jamie Dimon warns competition will intensify after JPMorgan, Wells Fargo and Citi report $49bn in net interest income
Several of bank’s businesses hit during second quarter despite resilience of US consumer
It’s time for some water utility game theory
wow
DBS, OCBC, Citibank and Swiss Life punished for inadequate controls
Chief financial officer says US debt ceiling stand-off knocked trading business in second quarter
Another look at a perennial value play
US lender drops effort to sell Mexican retail bank it bought in 2001
CMA’s initial finding shows traders exchanged sensitive information on pricing and strategies
For pension funds, endowments and family offices, there are more options beyond listed equities to make an impact
Link link stinks
Wall Street bank says it was ‘unaware’ of Paul Barrett’s ‘association’ with disgraced financier
Revenues are concentrated among a few megastars, with a yawning gap where a mid-level decent income might be
Loss of some consumer deposits balanced out by increase in those from corporate clients
Customers pulled almost $100bn from ‘Big Four’ retail lenders in first quarter, according to analysts’ forecasts
Sisters of St Joseph of Peace accuse bank of trying to ‘minimise its role’ in providing cash to oil pipeline company
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