$FNFG (First Niagara Financial Group Inc.)

$FNFG {{ '2016-03-23T18:40:09+0000' | timeago}} • Announcement

Bank holding company $FNFG and $KEY, a financial services company, said that both company's shareholders voted in favor of the merger between the two companies. $FNFG and $KEY entered into a merger agreement on Oct. 30, 2015. The 90% affirmative votes allow the proposed merger to continue forward. The deal is anticipated to close during the 3Q16.

$WFC {{ '2017-10-17T20:39:48+0000' | timeago}} • Webcast

Despite the impact of $1Bil discrete litigation accrual for mortgage-related regulatory investigations in 3Q17, $WFC's average deposits grew 4% YoY, client assets reached record levels in wealth and investment management, debit card purchase volume grew 5%, balances in consumer and general purpose credit card portfolio grew 5%.

$BAC {{ '2017-10-13T19:10:55+0000' | timeago}} • Webcast

$BAC said it did not see a spike in loan defaults in 3Q17, unlike rivals such as $JPM and $C. However, the Charlotte, North Carolina- based company said it increased its provision for loan losses in the consumer banking segment by $269MM, keeping in mind the impact of hurricanes during the quarter.

$BAC {{ '2017-10-13T18:32:39+0000' | timeago}} • Webcast

Responding to a question whether $BAC would be able to hold the reins on costs in its Global Wealth and Investment Management business, the company said higher expenses are always attached to wealth management fee generation. In 3Q17, efficiency ratio for Wealth Management unit stood at 73%, much higher than Commercial Banking and Consumer units.

$WFC {{ '2017-10-13T18:27:56+0000' | timeago}} • Announcement

For 3Q17, $WFC's revenue came under pressure, declining 2% YoY to $21.9Bil. Operating expenses rose 8%, mainly due to the legal costs the bank is facing to resolve its fake accounts fall-out. Notably, to fight rising legal costs, the bank has planned to slash its expenses by $4Bil by the end of 2019 by shutting down more than 400 branches.

$WFC {{ '2017-10-13T18:16:09+0000' | timeago}} • Announcement

Amidst the struggle to recover from its fake accounts scandal that resulted in millions in penalties and resignation of then-CEO John Stumpf, $WFC posted lowest quarter earnings in seven years. The bank's profit for 3Q17 fell 19% YoY as it set aside $1Bil to cover regulatory investigations into lending practices prior to the 2008 financial crisis.

$BAC {{ '2017-10-13T18:07:59+0000' | timeago}} • Webcast

As part of its cost-cutting initiative, $BAC said it reduced workforce by 0.5% or 1,065 workers in 3Q17. The banking behemoth has cut over 80,000 jobs since CEO Brian Moynihan announced the initiative in 2011. Bank of America said it doesn't expect to see any more huge job cuts in the near future.

$WFC {{ '2017-10-13T15:36:51+0000' | timeago}} • Infographic

$WFC Wells Fargo & Company Earnings AlphaGraphic: Q3 2017 Highlights

$BAC {{ '2017-10-13T13:15:17+0000' | timeago}} • Infographic

$BAC Bank of America Earnings AlphaGraphic: Q3 2017 Highlights

$BAC {{ '2017-10-13T12:14:49+0000' | timeago}} • Announcement

In 3Q17, $BAC witnessed revenue growth in three of its four segments. Revenue from its largest segment, Consumer Banking, increased 10%, while that from Global Wealth and Investment Management rose 6%. Global Banking segment revenue rose 5%, but revenue from Global Markets fell 11% during the quarter.

$BAC {{ '2017-10-13T12:07:34+0000' | timeago}} • Announcement

$BAC said its loans in 3Q17 totaled $927.1MM, while deposits came in at $1.284 trillion. Meanwhile, driven by higher commercial losses, $BAC's net charge-offs rose by $12Bil YoY to $900MM.

$BAC {{ '2017-10-13T12:02:32+0000' | timeago}} • Announcement

$BAC, the second largest US bank by assets, said sales and trading revenue fell 13% to $3.1Bil in 3Q17 due to unfavorable market conditions and lower volatility in rates products. Fixed-income trading revenue fell 22% to $2.15Bil. Earlier, rivals $C and $JPM had also reported 16% and 27% declines respectively in their fixed-income trading revenues.

$BAC {{ '2017-10-13T11:53:40+0000' | timeago}} • Announcement

In spite of weak bond trading business, $BAC reported 13% jump in net income in 3Q17 to $5.6Bil, or $0.48 per share. Meanwhile, riding on a 9% climb in Net Interest Income during the quarter, the banking giant managed to modestly lift its revenue up 1% to $22.08Bil.

$WFC {{ '2017-10-12T15:33:50+0000' | timeago}} • Announcement

$WFC named Mike Roemer as Chief Compliance Officer, who will join the bank in January 2018. Roemer recently served as Group Head of Compliance for UK lender Barclays. Notably, Barclays' CEO Jes Staley is under a regulatory investigation over a whistleblowing scandal, while Wells Fargo is trying to get out of its fake account scandal.

$CGI {{ '2017-10-10T14:21:38+0000' | timeago}} • Announcement

$CGI appointed Kathleen Ross to its BoD. The board has determined that Ross is an independent director under NYSE Rule. Ross retired from $BAC in September 2016, where she served as a SVP in the bank's transportation and logistics group since 2008.

$BAC {{ '2017-10-04T22:35:34+0000' | timeago}} • Announcement

$BAC announced that the 68th US Secretary of State, John F. Kerry, has joined the bank’s Global Advisory Council as Chairman. Secretary Kerry, a former US senator from Massachusetts, is currently Distinguished Fellow for Global Affairs at Yale University and Visiting Distinguished Statesman at the Carnegie Endowment for International Peace.

$ICE {{ '2017-10-02T13:52:59+0000' | timeago}} • Announcement

$ICE announced monthly notional value cleared for credit default swaps (CDS) in September, with over $1.75 trillion in gross notional and a daily record of over $450Bil cleared on September 20.

$ICE {{ '2017-09-20T22:33:44+0000' | timeago}} • Announcement

$ICE said the American Depositary Shares of BEST Inc., a Chinese supply chain technology firm, began trading on the New York Stock Exchange under the ticker symbol BSTI. The company raised $450MM in gross proceeds and is the largest US IPO of a Chinese firm YTD. GTS is the NYSE Designated Market Maker (DMM) for the company’s shares.

$BAC {{ '2017-09-20T15:41:19+0000' | timeago}} • Webcast

With customers like $BAC and $T, $ORCL is confident of taking market share across the applications ecosystem. Oracle's app business grew 17% in 1Q18 with large marquee customer wins across Cloud portfolio. Oracle said its app business growth rate in the Cloud is higher than other players and sells double of what $CRM sells in absolute dollars.

$WBS {{ '2017-09-19T13:01:10+0000' | timeago}} • Announcement

Financial services firm $WBS said Chairman and CEO James C Smith will retire, and transition to non-executive chairman. Webster’s President John Ciulla will become the new CEO, and join the holding company's BoD. The management changes are effective January 1, 2018, and reflect the culmination of a multi-year leadership succession planning process.

$WBS {{ '2017-09-18T20:51:56+0000' | timeago}} • Announcement

$WBS, the holding company for Webster Bank, has named Albert Wang as the Chief Accounting Officer of Webster Financial Corporation and Webster Bank. He previously served as EVP and Chief Accounting Officer of Banc of California. Wang has more than 20 years of accounting, tax, and audit experience.

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