Michael Mayo News
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JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon won more investor support this year than in 2012 to remain chairman, weathering a push to divide the roles after the largest U.S. bank suffered a record trading loss.
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JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon won shareholder support to remain chairman, surviving a campaign to split the roles after a record trading loss at the biggest U.S. bank.
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JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon won approval from investors to keep his chairman title in preliminary voting ahead of today’s shareholder meeting, according to two people with knowledge of the tallies.
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Michael Mayo, an analyst at CLSA Ltd., raised his share-price estimate on Morgan Stanley to $36 after Chief Executive Officer James Gorman said the firm may reach his profitability target next year.
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Moore Capital Management LP and Appaloosa Management LP are among hedge fund firms that counted Citigroup Inc. among their top holdings before the bank posted a 16 percent rally in a month and a half.
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Third Point LLC, the hedge-fund firm led by Daniel Loeb, exited its position in Morgan Stanley in the first quarter after the shares rallied.
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Michael Mayo, an analyst who has spent the past five years telling investors to sell Citigroup Inc.’s stock, reversed his stance after the board replaced Vikram Pandit as chief executive officer yesterday.
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Shareholders at the biggest U.S. banking conglomerates may demand breakups if valuations remain depressed, according to analysts at Wells Fargo & Co.
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The six largest U.S. banks may return almost $41 billion to investors in the next 12 months, the most since 2007, as regulators conclude firms have amassed enough capital to withstand another economic shock.
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James Gorman strides across the stage of the auditorium on the top floor of Morgan Stanley’s Times Square headquarters. It’s late October, and he’s in the midst of the second investor revolt he’s been through in three years -- the first one coming during the financial upheaval of 2008.
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