Morgan Stanley posted a much higher than expected quarterly profit on Tuesday as record revenue from its wealth management business helped offset the blow from a slump in trading activity.
Citigroup Inc. reported a higher quarterly profit as it kept costs lower, recorded a large gain from an asset sale and had a smaller-than-expected decline in trading revenue.
Global banks have said they could move thousands of jobs out of Britain to prepare for Brexit, the country’s planned exit from the European Union.
Bank of America Corp. Chairman and CEO Brian Moynihan will once again face a shareholder vote on whether he should maintain both roles, according to the bank’s proxy filing on Wednesday.
Citigroup Inc. mortgage units have been fined $28.8 million for keeping home borrowers in the dark about options to avoid foreclosure and making it difficult for them to apply for relief, the U.S. consumer finance watchdog said on Monday.
A former Citigroup Inc. financial adviser on Monday filed a lawsuit accusing the bank of running a “boys’ club” that favored men over women, treating her as a “glorified secretary,” and firing her in retaliation for whistleblowing activity.
Citigroup Inc., the fourth-biggest U.S. bank by assets, reported a 10.5 percent fall in quarterly profit on Friday, hurt by lower revenue from equity trading.
