Heidi Miller , a confidant of Jamie Dimon for almost two decades, more than quintupled pretax profit at JPMorgan Chase & Co. ’s treasury unit since taking over the division in 2004. Her reward: a newly created job heading all of the company’s international operations.
Goldman Sachs Group Inc. and JPMorgan Chase & Co. are among Wall Street firms likely to rally if Mitt Romney is elected president, giving U.S. banks a reprieve from being top political targets, according to FBR Capital Markets Corp. analysts.
Rising bond yields are typically indicators of stronger economic growth and higher profits for banks. That might not be the case this time, as a 30-year bull market in U.S. government debt shows signs of coming to an end.
Faulty foreclosures may cost U.S. lenders $2 billion for every month that home seizures are delayed and the tab could reach $6 billion, according to Paul Miller , the bank analyst at FBR Capital Markets.
JPMorgan Chase & Co., settling U.S. and U.K. probes of a $6.2 billion trading loss, agreed to pay $920 million in penalties and admitted violating securities laws last year as top managers withheld information from the board.
JPMorgan Chase & Co. disclosed $1.3 billion of new expenses tied to faulty mortgages and foreclosures in its third quarter, pushing the bill for the five biggest home lenders since 2007 to almost $69 billion.