Person Root Tag

Warren Buffett's Berkshire Hathaway, which cut many bank holdings as the pandemic bore down on the U.S., is back with a roughly $2.9 billion bet on Jane Fraser’s Citigroup even as it said goodbye to a longtime stake in Wells Fargo.

JPMorgan Chase shareholders should vote against CEO Jamie Dimon’s pay package, the proxy advisory firm Glass, Lewis recommended, citing a “disconnect” between his compensation and the bank’s performance.

Financial losses stemming from sanctions and the threat of cyberattacks are just some of the major concerns from across the industry.

Lael Brainard was confirmed as vice chair of the Federal Reserve Board of Governors Tuesday in a 52-43 Senate vote, the first of four central bank nominees set for consideration by the chamber.

Interest in digital assets is on the rise following an executive order from the White House and a recent report from the Fed.

The billionaire entrepreneur Peter Thiel called Warren Buffett, Jamie Dimon and Larry Fink members of a “finance gerontocracy” opposed to a “revolutionary youth movement” that embraces Bitcoin.

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

Jamie Dimon just received $56 million of JPMorgan Chase's stock, before taxes, from an incentive program the bank valued at less than half that much just three years ago.

The White House’s ambition to bring new oversight to the banking industry and reverse Trump-era deregulation was dealt a blow when Sen. Joe Manchin of West Virginia said he would oppose Sarah Bloom Raskin's nomination as the Federal Reserve's vice chair of supervision.

Citigroup says it will add about 900 staffers over the next three years as part of an effort to generate more revenue from midsize firms with global ambitions.

Senate Democrats insist the GOP's boycott of President Biden's picks for the Federal Reserve is interfering with the central bank's handling of an economic crisis. But GOP lawmakers say the Fed is functioning fine and their concerns about nominee Sarah Bloom Raskin are material.

Citigroup said it’s helping some of its workers in Ukraine seek refuge in Poland and sending advances on pay to help them contend with the Russian invasion.

Citigroup said profitability will fall as the bank pursues a strategy shift that it said will raise expenses in the near term.

JPMorgan Chase CEO Jamie Dimon said disconnecting Russian banks from the Swift messaging system may bring “unintended consequences” that include third parties finding ways around the penalty.

No one liked it when interest interest rates hit 21% in the early 1980s, but the actions of the Federal Reserve under Paul Volcker helped save the U.S. economy from true catastrophe. That kind of leadership is lacking in today’s Washington.

Citigroup has been pulling back retail operations from broad swaths of the globe, but its commercial banking business is finding new regions for expansion.

Citigroup awarded Chief Executive Jane Fraser $22.5 million for her work in 2021 after she assumed the top job in February and helped guide the bank through regulatory hurdles.

Axis Bank is nearing a deal to buy Citigroup’s India retail banking business, a transaction that could be valued at about $2.5 billion, people familiar with the matter said.

Wells Fargo’s stock took off last year amid signs that Charlie Scharf is making progress in his efforts to turn the lender around.

DBS Group Holdings agreed to buy Citigroup’s consumer banking assets in Taiwan, as Southeast Asia’s largest lender pushes ahead with plans to boost its regional presence.