Strong market conditions and the need for sophisticated advice were major boons for wealth units in Q2.
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Trading desks benefited from heightened stock trading around Iran War-related volatility, while mega deals fuled investment banking units.
There are a whopping 23 banks named on the cover of the SpaceX prospectus, with Goldman Sachs holding the lead-left spot.
The combined net worth of the US CEOs who joined President Donald Trump for a two-day summit in China is nearly $1 trillion.
The goal is less about attracting new clients and more about catering to existing ones, according to Citi head of wealth Andy Sieg.
Citi and Savvy Wealth recently launched new tools, but the advisors who can best adapt to the evolving tech will be the ones who thrive.
The collaboration reflects a broader trend of consolidating siloed investment processes into unified account frameworks.
Revenue at Morgan Stanley’s wealth business grew 16% year-over-year to $8.5 billion, and net income rose 34% to $2.1 billion.
CEO Jane Fraser, who took over in 2021, has won plaudits for executing a multi-year reordering of the bank’s sprawling global structure.
The upbeat earnings reports Wall Street expects from the largest US banks are once again being overshadowed — this year, by the Iran War.
Loans in Wells Fargo’s corporate and investment banking business climbed 14% in the three months through December.
Disclosures by two regional lenders last week set off a mini-panic about bad loans on the books of small and medium cap banks.
Pretty much all of Wall Street reported another quarter of stellar earnings this week.
The bank reported Tuesday that it made $2.6 billion in investment banking fees in the third quarter, a 42% year-over-year surge.
Companies that have been waiting on the crypto sidelines are likely about to jump in the game following the passage of the GENIUS Act.
The consensus takeaway from the earnings season so far is that the economy is, in spite of everything, doing pretty good.