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Stock Market & Financial Investment News

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May 28, 2014
11:20 EDTWFCWells Fargo CFO says keeping investment bank U.S.-centric
John Shrewsberry, Wells Fargo CFO, said the bank is very U.S.-centric in investment banking and is likely to remain that way. The bank has the opportunity to grow its market share in investment banking beyond the 5%-6% share it currently holds. Shrewsberry also said that the trading and sales side of the business never had the burden of legacy assets and is therefore not having any capital or liquidity issues. Trading and sales are also U.S.- centric and Wells Fargo doesn't see that business getting much larger over the next few years especially in the current regulatory environment. Comments were made earlier at the Deutsche Bank Global Financial Services Investor Conference.
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August 27, 2014
08:00 EDTWFCSEC seen completing rules on MBS detail disclosures, WSJ says
The Securities and Exchange Commission is expected to complete rules requiring banks and other financial institutions to give investors greater detail about the quality of mortgages and other loans pooled into bonds known as asset-backed securities, reported The Wall Street Journal. Publicly traded big U.S banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
August 21, 2014
06:43 EDTWFCRegulators up bank warning efforts for poor risk assessment, Reuters says
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August 20, 2014
06:02 EDTWFCWells Fargo wins approval for $62.5M settlement, Charlotte Observer says
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August 19, 2014
13:42 EDTWFCWells Fargo looks to bulk up asset-management business, WSJ says
Wells Fargo is looking to increase the size of its asset-management business to over $1T over the next decade by making acquisitions of smaller asset managers and more aggressive sales to larger investors, says the Wall Street Journal. Reference Link

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