The Takeaway from Barclays
September 12, 2012 2:12 PM
(Image: Fotolia)
Barriers to Borrowing
"The uncertainty around the election, uncertainty around tax policies, our own fiscal cliff that's coming at the end of this year, the events in Europe -- make your list" of reasons business clients are afraid to take risks .
--Beth Mooney, chairman and CEO, KeyCorp (KEY)
Discover Deal Not in the Cards
"We don't feel that we need to do an acquisition in credit cards ."
--Tim Sloan, CFO of Wells Fargo's (WFC)
Under Control
B of A has enough funds to cover problem mortgages, rejects the notion it is too big to manage , and is doing all it can "to simplify the company."
--Bruce Thompson, CFO, Bank of America (BAC)
Retooled for the Future
Citi's focus on lending to wealthier, more cosmopolitan consumers worldwide promises "very attractive returns" and "less risk-weighted assets."
--Vikram Pandit, CEO of Citigroup (NYSE: C)
(Image: Bloomberg News)
Cutting Cost Centers
FirstMerit in Akron, Ohio, has closed eight branches, eliminated assistant branch manager jobs and will consider more cuts because "we are seeing fewer branch transactions."
--Paul Greig, CEO of FirstMerit (FMER)
Don't Cut Nose to Spite Face
"It's tempting to focus on controlling and cutting expenses. We think that's a mistake. … We are going to invest in revenue production ."--Kelly King, chairman and CEO of BB&T (BBT)
Technology Shift in High Gear
PNC plans to add check scanners to 600 more ATMs by yearend, invest more in mobile banking , eliminate a few dozen teller jobs and make other retail changes.
--James Rohr, chairman and CEO, PNC (PNC)
Bracing for Disruption
"I think so many of the people who work for Google or Facebook or Apple or others -- when they think about how can we change the world, almost the first place they look is at traditional banking ."
--Richard Fairbank, Chairman and CEO, Capital One (COF)
Why Small Banks are Vulnerable to Takeovers
--Phil Flynn, CEO, Associated Banc-Corp (ASBC)
