Investment banking

Jim Rosenthal previously served as chief operating officer at the Wall Street investment bank. He joins the board of an online lender that has recorded losses in five straight quarters.

The public-private effort, aimed at expansion-minded tech and other companies with proven track records, would be backed by the country’s six largest banks, insurance companies and regional lenders.

The bank and one of its investors are planning a sale of common stock that could help fund growth initiatives.

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In a sharply worded message to staff, Lloyd Blankfein, Goldman Sachs' longtime head, broke with the Trump administration over its controversial attempt to crack down on immigration.

BlackRock, the world’s largest asset manager, said it plans to move $1 trillion in custodial and fund services for client assets to JPMorgan Chase from State Street.

A 9% increase in interest revenue helped to offset relatively flat growth in fee revenue.

Citigroup reported fourth-quarter profit that surpassed analysts’ estimates as trading revenue jumped 31%, more than the bank had forecast last month.

Bank of America, the second-largest U.S. lender by assets, said fourth-quarter profit rose 43% as revenue from fixed-income trading increased and expenses dropped.