JPMorgan Chase & Co . had more Japanese holdings than any U.S. lender and Citigroup Inc . counted Japan’s government among its biggest debtors before last week’s earthquake struck, according to KBW Inc.
First-half revenue at the six biggest U.S. banks climbed for the first time in four years, fueling profits and vindicating Bank of America Corp. and Morgan Stanley leaders who presided over stock slumps.
Antonio Guglielmi was in Italy watching a dull, tied-at-zero soccer game between AC Milan and S.S. Lazio of Rome, his hometown, at the beginning of February when his mind wandered to the subject of Europe’s banks. That’s something he thought about every day as a financial company analyst at Milan-based Mediobanca SpA.
Citigroup Inc. stopped soliciting clients for some retail banking products in Japan as it awaits the outcome of a government investigation into its compliance with local rules, two people with knowledge of the matter said.