Strategic planning

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.

The Wisconsin company is the latest bank to plan cutbacks in the fees. Its fee income is projected to fall by about 2% from its level last quarter.

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 niche railcar leasing unit, which the North Carolina company inherited with its acquisition of CIT, may generate roughly 25% of the combined entity's noninterest income, executives said. They vowed to slow the sale of boxcars that had been underway at CIT.

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. 

Lynn Fuller, a onetime CEO of the Iowa company, called his ouster “retaliation” for publicly criticizing Heartland’s strategy. He had planned to step down as chairman in May.

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.