Expense management

Bank of America is moving three months early on its most recent plan to raise its hourly base pay. “Until the labor market eases, the weight of wage growth is going to be strong,” CEO Brian Moynihan said during a CNBC interview.

Inside JPMorgan Chase, senior executives are counting on an investor day to redeem themselves from a routine January conference call now widely viewed as disastrous.

Wells Fargo missed analysts’ expectations on first-quarter revenue and expenses as Chief Executive Charlie Scharf continues to face challenges turning around the bank after years of scandals.

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. 

At the bank’s investor day, CEO Jane Fraser and other top executives outlined where they are investing, how they are reorganizing and what it will all cost.

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

Royal Bank of Canada is still benefiting from the pandemic-era boom in capital markets.

A busy end to the year for Barclays’ dealmakers helped offset a slump in trading activity and lift the British bank to its highest annual profit on record.

Wages, marketing spending and technology investments are all on the rise. While higher interest rates should eventually help tame inflation, it's not clear how quickly banks will be able to limit their spending increases.

For the third time since the start of the pandemic, the Richmond, Virginia, company will close branches to contain costs in what it calls a “challenging macroeconomic environment.”