Citigroup Inc. and JPMorgan Chase & Co. are bracing investors for a fourth straight drop in first- quarter trading, a period of the year when the largest investment banks typically earn the most from that business.
Fab.com Inc., valued at more than $1 billion dollars after just two years in existence, is suffering growing pains from its rapid expansion as it applies a culture of meticulous control to a global business.
Combined profit at the six largest U.S. banks jumped last year to the highest level since 2006, even as the firms allocated more than $18 billion to deal with claims they broke laws or cheated investors.
JPMorgan Chase & Co.’s Mary Callahan Erdoes got her first assignment managing money when she was 6 years old. The eldest of four children, Erdoes showed an early aptitude for math that was fostered at her grandmother Kay’s suburban Chicago breakfast table, where she helped balance her grandparents’ checkbook on an adding machine.
Morgan Stanley, Bank of America Corp. and Wells Fargo & Co. are poised to lead the six largest U.S. lenders by reporting a jump in earnings that may surprise some investors fixated on a slump in trading and mortgage lending.