Investment banking

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.

Investment banker Robert Jackey has left Citigroup to join SVB Financial Group, according to people familiar with the matter, as the parent of Silicon Valley Bank bulks up its health care advisory unit.

Bank of America’s traders and investment bankers reaped another windfall, joining their Wall Street rivals in capitalizing on the stock market’s wild ride this year.