Bank of New York Mellon Corp. is exploring the sale of its corporate trust arm as it seeks to retreat from a business that has become less profitable since the financial crisis, people with knowledge of the matter said.
Goldman Sachs Group Inc. should replace its top executives because they failed to understand the politics of the financial crisis and mishandled regulators’ claims of fraud against the firm, according to Richard Bove, an analyst at Rochdale Securities.
Financial institutions shouldn’t be required to measure risk against a benchmark portfolio because it makes no sense, said Richard Bove, an analyst at Rochdale Securities LLC, in reaction to comments from Citigroup Inc. Chief Executive Officer Vikram Pandit.
The executive suite at Citigroup Inc.’s headquarters in New York where Michael Corbat has his office hasn’t been renovated since its previous occupant, Vikram Pandit, vacated the premises in October 2012.
Citigroup Inc. , the U.S. lender emphasizing international growth, may benefit as Japan rebuilds from last week’s earthquake and the Middle East rebounds from political turmoil, according to analyst Richard Bove .
MF Global Holdings Ltd.’s bankruptcy filing may prompt the U.S. Federal Reserve to “rethink” the definition of systemically important firms and to expand its oversight, according to bank analyst Richard Bove.
Legislators who don’t understand the banking industry and a sense of “mass hysteria” led to the passage of a financial-reform law that will hurt U.S. consumers, said Richard Bove , an analyst at Rochdale Securities.