America had Ryan Gosling in The Big Short, breaking down the 2008 financial crisis from the Wall Street office of Deutsche Bank. Britain has Rory Kinnear singing karaoke Whitesnake in the Duck and Drake, Burnley. The movie is Bank of...
Gerardo Martinez In 1936, John Maynard Keynes coined the famous term ‘Animal Spirits’ to illustrate how people take decisions based on urges, overlooking the benefits and drawbacks of their actions. To what extent are prices of Environmental, Social and Governance...
The combination of today’s uncertain macroeconomic conditions and the Consumer Financial Protection Bureau’s new open banking rule coming this year has consumers wanting quick access to cash from their banks under the watchful eye of regulators. Consumers want the ability...
Citizens Financial Group will continue to modernize its cloud-based digital platforms and move away from internal applications in 2023 following last year's cloud migration efforts. WHY IT MATTERS: In 2022, the $225 billion Citizens moved its direct-to-consumer digital platform Citizens...
Plunging profits at the two premier Wall Street investment banks sparked contrasting reactions from investors, who punished Goldman Sachs for a sharp fall in investment banking fees while rewarding Morgan Stanley’s push into more stable businesses.The earnings further underscored the...
Morgan Stanley reported a 40 per cent year-on-year drop in net income to $2.2bn for the fourth quarter, as record revenues in its wealth management businesses failed to offset a sharp fall at its investment bank.The results on Tuesday for...
Wells Fargo is keeping to its multiyear digital transformation path and planning further investments in its online platforms in 2023. WHY IT MATTERS: Since 2020, the $1.8 trillion Wells Fargo has decreased its headcount by more than 10%, or 30,000...
Despite the layoffs across the finance industry, there were no signs of a staffing pullback in JPMorgan Chase & Co’s or Bank of America Corp.’s fourth-quarter results. JPMorgan’s headcount rose 2% to 293,723 from 288,474 last quarter, the company said...
JPMorgan Chase reported increased revenue and mobile usership in the fourth quarter of 2022 despite a year-over-year decrease in tech spend. WHY IT MATTERS: The $3.3 trillion bank’s tech spend in Q4 fell 8% YoY to $2.2 billion while total...
Bank of America continued to invest in technology and people during its fourth quarter amid global economic uncertainty. WHY IT MATTERS: The $3 trillion bank’s Q4 non-interest expenses rose 8% year over year to $5.1 billion, “primarily driven by investments...
