Morningstar's Jaime Peters checks in on the current health and outlook for Citi, J.P. Morgan, and BofA following release of their second-quarter results.
Investment banking and declining delinquencies helped power strong results for J.P. Morgan and B of A, but uncertainty in the housing market and broader economy still loom, says Morningstar's Jaime Peters.
Bank of America Corp. shifted bonuses at U.S. Trust to focus employees on adding clients and boosting account balances, a change that could mean lower pay for some members of the wealth-management unit.
Bank of America Corp.'s brokerage arm and JPMorgan Chase & Co.'s asset-management division are among businesses ripe for divestiture if U.S. banks break up to improve stock prices, according to CLSA Ltd.'s Mike Mayo.
Bank of America Corp.'s Lisa Shalett, who was chief investment officer for the firm's Merrill Lynch brokerage for two and a half years, will leave the company.