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Selling asset management unit will allow lender to refocus on core lending
GTCR and Reverence Capital to buy division with $603bn of client assets as consolidation sweeps across industry
Three banks collectively released more than $5bn of pandemic-related loan loss reserves
JPMorgan, Citi and Wells Fargo cite vaccine rollout and better economic outlook
US bank is slashing branches, eliminating layers of management and reducing its real estate footprint
Wall St expected to near limits on repurchases as loan losses recede and capital markets soar
Bank stock sees whipsaw-like rebound but investors wait for news on cost cuts and regulatory cap
PNC Financial’s Bill Demchak has made a big impact in the two very distinct parts of his career
Ex-bank boss accused of misleading investors about retail operations at the centre of fake accounts scandal
Despite a year in post, chief has yet to produce a detailed plan for bank’s turnround
News overshadows declining credit costs and improved results from banks’ fee-based businesses
Income in lender’s mortgage unit surges as Americans rush to refinance at lower rates
Commercial properties in difficulty are being valued at less than 75% previous level, appraisal data show
His investment company Berkshire Hathaway now owns just 3.3% of a once-favoured US bank
Warren Buffett’s group pares back holdings in Wells Fargo, JPMorgan, PNC and Goldman Sachs
Israel and the United Arab Emirates have reached a historic peace deal
Mike Roemer leaves after two years trying to fix the bank’s oversight functions
Chief’s plans target $1bn work done by consultants and will include cuts to thousands of jobs
Mr Santomassimo held the same role at BNY Mellon under current Wells Fargo chief Charlie Scharf
Boom in fixed income trading in second quarter overshadowed as lenders count cost of pandemic
Move comes after Amazon says email telling staff to do the same with video app was ‘sent in error’
Preparations for lay-offs before year-end come as loan losses jump and profits fall
Epidemic drives increase in loan loss reserves and securities writedowns even with strong commercial activity
As the stock market plummeted last month, managers of big companies saw value
Regulator allows scandal-hit bank to temporarily expand lending to aid virus effort
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