5 Takeaways From BofA, Wells Fargo Q3 Earnings
Consumer lending shows cracks on the second day of earnings season; the four largest U.S. banks cut their combined workforce after a pause.
BofA Posts Its Best Profit in Six Years
Trading revenue falls 15%, fueled by slump in fixed income; net income climbs 13% to $5.59 billion, beating estimates.
Merrill Exec Gets ‘Cease and Desist’ in Biggest Customer Protection Case Ever
The SEC found the executive negligent; Merrill was fined $415 million over leveraged conversion trades involving investors’ cash.
10 Best & Worst Broker-Dealers: Q2 Earnings, 2017
Most large financial firms with broker-dealer operations have reported their results for the quarter.
Merrill vs Morgan: Q2 Earnings, Wealth Results
The two wirehouses share their advisor tallies, profits, fee-based assets and more in their latest reports.
BofA, Goldman Sachs Reverse Roles With Core Business Letdowns
Bank of America beats on trading while Goldman boosts lending; both firms’ stocks jumped more than 30% after Trump’s election.
Ex-BofA Wealth Exec Charged in $2.7M Charity, AIDS Scam
Executive and her husband are accused of grabbing bank’s charitable donations and of fraud affecting HIV/AIDS children’s charities.
Critic of 'Overpaid' CEOs Dies at 82
NYSE compensation consultant Graef Crystal criticized Citi's Weill and NYSE CEO Grasso, but labeled BofA's Moynihan as underpaid.
BofA Profit Jumps in Q1 as Wealth Unit’s Asset Flows Top $29B
The number of advisors in the Thundering Herd, though, falls below 14,500 as more reps retire.
Focus Financial Nabs $2.7B RIA; Raymond James Adds Wirehouse Rep: Recruiting Roundup
Meanwhile, U.S. Trust hires a philanthropic sales director and S2K brings on a due diligence executive.