Corporate governance

In his annual letter to shareholders, the JPMorgan Chase CEO wrote that although the U.S. economy remains strong, “we should prepare for the potential negative outcomes.” He also provided more detail about the megabank’s big spending plans.

Barclays is developing a global private credit strategy, according to several people familiar with the situation, seeking to take part in the fast-growing $1.2 trillion asset class.

The bank plans to separate the two roles “upon the next CEO transition,” it said in a proxy statement Monday.

Citigroup agreed to sell its India retail banking business for about 123 billion rupees ($1.6 billion) cash to Axis Bank, as the U.S. lender seeks to consolidate its operations in identified markets.

Citizens Financial Group is mulling the acquisition of a wealth manager or even a lender in Florida following a deal spree by the bank last year, CEO Bruce Van Saun said.

The niche railcar leasing unit, which the North Carolina company inherited with its acquisition of CIT, may generate roughly 25% of the combined entity's noninterest income, executives said. They vowed to slow the sale of boxcars that had been underway at CIT.

The average Wall Street bonus increased 20% last year as a flurry of initial public offerings and higher underwriting fees boosted profitability across the industry. 

A new Securities and Exchange Commission proposal would require public companies to report climate-related risks across their value chain. That could be especially difficult if it means banks have to account for their borrowers' emissions.

Lynn Fuller, a onetime CEO of the Iowa company, called his ouster “retaliation” for publicly criticizing Heartland’s strategy. He had planned to step down as chairman in May.

Join Maggie Kimberl, President of the Bourbon Women Association for a peek behind the scenes of the bourbon industry. Learn more about the women that are rising in the male-dominated spirits sector, the proper bourbon tasting technique and a little bit of the history of bourbon.