Investment banking

In his new book “Inside Money,” Zachary Karabell tells a compelling story about how Brown Brothers Harriman influenced the course of U.S. history.

The Dallas bank unveiled an initiative that involves doubling its client-facing headcount across the Lone Star State and expanding its investment banking division. But its stock price plunged amid concerns about how long it will take to deliver returns for investors.

Many insiders are wondering about a contingent of senior executives who oversee some of the pillars of the Wall Street powerhouse that Tom Montag helped build: dealmaking, trading and commercial banking.

JPMorgan Chase’s investment bankers posted their best quarter ever as a record first half in dealmaking bolstered the bottom line at the nation’s largest bank. But expenses climbed in the second quarter and loan growth remained out of reach.

The company will increase annual base salaries by up to $25,000 in an effort to retain younger staff facing burnout from working long hours during the pandemic.

The plan underscores how Chief Executive David Solomon is seeking to reshape U.S. operations geographically as he looks to rein in expenses, placing thousands of jobs in cheaper locales.

Goldman Sachs Group has begun offering cash management and treasury services in the U.K. as it builds out its new transaction-banking arm.

Zoom meetings may never go away, but in the fiercely competitive world of high finance, visits to faraway clients are starting to stage a rapid comeback.

The Cleveland company had a strong quarter for investment banking as midsize companies raised capital to fund growth initiatives. Executives expressed confidence that such activity will translate into more loans over the second half of 2021.

The New York-based Citigroup is pushing ahead to set up new investment banking and trading operations in China after announcing it would be exiting retail banking in the world’s second-largest economy.