Wells Fargo now gets a third of its fee revenue from its relatively small investment-management and brokerage businesses. Executive David Carroll explains how Wells is getting more business from its wealthy but not too wealthy customers and is seeking acquisitions in this market.
Despite all the evidence, some bankers are still in denial over how much their industry is disliked and mistrusted these days. That became apparent again Tuesday, during a panel discussion with high-profile industry members and critics.
JPMorgan Chase kicked off the first-quarter earnings season by announcing record profits, but the results did little to inspire investor confidence in bank earnings or diminish ongoing scrutiny of the bank's business and corporate structure.