Investment banking

Andy Sieg, head of Citi's wealth business, says retention bonuses are part of his growth strategy.

Gorman is stepping down as the bank's chairman at the end of the year. Here's a look at how he rebuilt Morgan Stanley with a focus on wealth management.

The North Carolina-based company expects its revenue to outpace expenses next year — a goal that has proven elusive over the five years of Truist's existence.

The New York-based investment bank reported higher revenues across all business lines, with double-digit increases in wealth management and investment banking.

The change will allow the Wall Street firm's material risk takers to now earn a bonus that's as much as six times their base salary.

The infrastructure fund dubbed BXINFRA targets individuals with at least $5 million of investments.

The Dallas-based bank is the latest bank to announce plans for a direct lending rollout using nonbank capital.

The Wall Street investment bank saw its profits rebound in the second quarter as last year's decline in mergers continued to thaw. "The game will have to go on because there's just been so much activity that has been suppressed," said CEO Ted Pick.

The investment banking giant said that it will "moderate" its pace of share repurchases as it continues to talk to the Federal Reserve, which recently increased its stress capital buffer from 5.5% to 6.4%.

Investment banking fees shot up at the nation's largest bank, thanks to rebounds in M&A and the equity capital markets segment. And despite higher credit costs in the company's card business, a top bank executive expressed confidence in the health of U.S. consumers.

What lies ahead for the banking industry this year? Here's what analysts and investors are tracking after the latest bank earnings reports.

At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.

After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.

Morgan Stanley CEO Ted Pick downplayed the importance of government investigations into potential money laundering issues involving wealth management clients. "We've been focused on our client on-boarding and monitoring processes for a good while," he said.

The New York megabank is working to deploy artificial intelligence as it seeks to make its own operations more efficient. Solomon also sees an "unprecedented" opportunity in financing clients' needs as they invest in AI.

First-quarter results at the companies were promising for other banks looking to reel in fees from capital markets activities as deposit costs put pressure on net interest income.

Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.

M&T Bank creates new chief communications officer role, Citi cuts London investment banking jobs as deal drought persists, new report by McKinsey advises banks to institute artificial intelligence from headquarters rather than by divisions, and more in our weekly news roundup.

For the second straight year, Goldman Sachs shareholders have filed a proposal calling for more details on racial and gender pay gaps. The request comes as the investment banking giant faces scrutiny over its lack of high-ranking women leaders.

BNP Paribas Asset Management says its ESG clients have been moving into money market funds in reaction to volatility in the market.