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Goldman Sachs is talking about moving some roles in its global markets division to Florida, sources said. Goldman Sachs employees in the U.S. officially reported back to the office on Monday, after more than a year of remote work. The bank is in the early stages of moving traders and salespeople to Florida, according to people with knowledge of the plans. Goldman staff who move to Florida will not be expected to take a pay cut, one of the people said. It's unclear how moving staff to Florida fits in with Solomon's push to get employees back in the office.
Persons: Goldman Sachs, Goldman's, Ashok Varadhan, Marc Nachmann, Varadhan, Nachmann, Dan Sundheim, Paul Singer's, Izzy Englander's, Steve Cohen's, Goldman, Eric Lane, Lane, David Solomon, John Waldron, Solomon, James Esposito Organizations: York, West Palm Beach, America, Bloomberg, D1 Capital Partners, Paul Singer's Elliott Management Corp, Management, Capital Management, Citadel, Sunshine State, Chase Coleman's Tiger Global Management, West, Asset Locations: Florida, West Palm, U.S, salespeople, Palm, New York, Manhattan, Boca Raton , Florida, Miami, Sunshine State . Florida, London, Hong Kong, Salt Lake City, Dallas, Bengaluru, India, Warsaw, Poland, South Florida
Morgan Stanley CEO James Gorman laid out a timeline for employees' return to the office. Morgan Stanley's chief executive just made it clear that a return to the office is imminent for the bank's US employees. A spokesperson for Morgan Stanley declined to comment beyond Gorman's remarks. He added that he anticipated the number of vaccinated employees to reach as high as 98% to 99%, but knows that some employees may decline to be vaccinated for personal reasons. Both leaders have criticized remote work for what they see as stunting the growth and development of young professionals.
Persons: Morgan Stanley, James Gorman, Morgan Stanley's, Goldman Sachs, Gorman, Betsy Graseck, haven't, He's, David Solomon, Jamie Dimon Organizations: Labor, Goldman Sachs ' New, CRE, New, Credit Suisse, Bank of America, JPMorgan Locations: Goldman Sachs ', Goldman Sachs ' New York, New York City, New York, Wells Fargo, India, United Kingdom, Florida, Colorado
Goldman Sachs CEO David Solomon has released a new single, with proceeds going to charity. The bank chief, who sometimes uses the name "DJ D-Sol," posted the song on his Instagram account. David Solomon, the CEO of Goldman Sachs, dropped a new single as part of his dance-music side project. A Goldman spokesperson told the outlet: "David enjoys producing music, and he is dedicated to giving back. In February, Solomon made clear that he wanted staff back in the office, as Insider's Reed Alexander reported.
Persons: Goldman Sachs, David Solomon, David, Solomon, Insider's Reed Alexander, Goldman, Anna Cooban, Kate Duffy Organizations: New York Post, Goldman, Guardian, The New York Times, Times Locations: London
Goldman Sachs asks U.S. employees about vaccination status - memo
  + stars: | 2021-06-10 | by ( Reuters Staff | ) www.reuters.com sentiment -0.96   time to read: +1 min
FILE PHOTO: The Goldman Sachs company logo is seen in the company's space on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., April 17, 2018. REUTERS/Brendan McDermid/File Photo(Reuters) - Goldman Sachs Group Inc has asked its U.S. employees to report their COVID-19 vaccination status by Thursday afternoon as the Wall Street bank plans their return to the office, according to a memo seen by Reuters. The New York-based investment bank, which has nearly 40,000 employees around the world, is planning to bring U.S. employees back to the office by mid-June. It said in the memo it was mandatory for employees to submit their vaccination status. Banks globally are adopting different methods to ensure a successful back to office plan, including hybrid working models and vaccination drives.
Persons: Goldman Sachs, Brendan McDermid, David Solomon, Banks Organizations: New York Stock Exchange, REUTERS, Goldman Sachs, Inc, Reuters, The Locations: New York, U.S, The New York
Goldman Sachs wants to know how many employees have been vaccinated, per a memo seen by the NYT. The bank gave staff a deadline of 12 p.m. Thursday to report their vaccination status. Goldman Sachs is keen to know how many of its US employees have been vaccinated as staff return to offices. The memo was sent earlier this week to bankers who had not yet reported their vaccination status, The Times said. It wasn't clear if report vaccination status was mandatory.
Persons: Goldman Sachs, Goldman, they've, Goldman Sachs didn't, David Solomon Organizations: The New York Times, Times, The Times, Workers Locations: Manhattan
David Drebin is that friend you invite to a dinner party who knows a little something about everybody and everything. A multidisciplinary artist who got his start in New York, Drebin now splits his time between New York City, Berlin, Miami and Los Angeles. One of his most famous pieces, "Girl in Paris" is of a woman on a terrace with the patio doors open looking out, with the Eiffel Tower in the background. The 50-year-old Drebin graduated from the Parsons School of Design in 1996, and started his career in New York. But it wasn't until his first solo exhibition in 2005 held at an art gallery in Berlin that put him on the map.
Persons: Elton John, Goldman Sachs, David Solomon, Andy Warhol's, David Drebin, Drebin, Lori Morris, who's, Christine Beauchamp, Dan, David Golla, that's, Warhol, Mario Carbone, Kim Kardashian, Drake, Salvador Dalí, Chuck Close, Roy Lichtenstein Organizations: Amazon Fashion, Eiffel, Art Angels, Parsons School of Design, Living Locations: New York, New York City, Berlin, Miami, Los Angeles, York, Paris, Jerusalem, Living Miami, Palm Beach
Wall Streeters outpace Europeans back to office
  + stars: | 2021-06-07 | by ( Aimee Donnellan | ) www.reuters.com + 0.00   time to read: +3 min
Barclays (BARC.L), Deutsche Bank (DBKGn.DE) and HSBC (HSBA.L), (0005.HK) are being laxer. Sidewalk-pounding bankers working at Wall Street firms might win more facetime with clients, and an even greater share of deals. Compare that with Barclays, HSBC and Deutsche Bank. HSBC CEO Noel Quinn reckons the bank can slash 40% of its physical office space over time. - Goldman Sachs in May asked U.S.-based employees to return to working in the office by June 14 and in the UK by June 21.
Persons: Shannon Stapleton, Jamie Dimon, Goldman Sachs ’, David Solomon, Dimon, Goldman’s Solomon, Noel Quinn, Barclays ’ Jes Staley, Goldman, , Goldman Sachs Organizations: REUTERS, JPMorgan, Barclays, Deutsche Bank, HSBC, HK, Wall, Deutsche’s, Deutsche, Reuters, May, U.S Locations: New York, U.S, City, London, United States, Britain, Manhattan, Deutsche’s U.S, England
Three new independent directors are joining Robinhood's board, the company announced Tuesday. Jon Rubinstein, Paula Loop, and Robert Zoellick will join Jan Hammer and Scott Sandell as independent directors. The additions bring the retail trading app one step closer to an IPO, which could be announced soon. Robinhood is adding three new independent directors to its board, the company announced on Tuesday, a move that brings the company one step closer to its highly anticipated IPO. The new members, Jon Rubinstein, Paula Loop, and Robert Zoellick will join current members Jan Hammer and Scott Sandell, as well as Robinhood co-founders Vlad Tenev and Baiju Bhatt.
Persons: Jon Rubinstein, Paula Loop, Robert Zoellick, Jan Hammer, Scott Sandell, Vlad Tenev, Baiju Bhatt, Goldman Sachs, David Solomon, Jon, Paula, Bob, Tenev Organizations: Robinhood, Apple, Bridgewater Associates, SEC, Harvard, World Bank Locations: PwC
The heads of major U.S. banks on Wednesday expressed tentative support for a federal interest rate cap on consumer loans, which would likely include payday and auto title loans. "We absolutely don't charge interest rates that high for our customer basis," Citi CEO Jane Fraser said in response to Sen. Reed's question. Currently, 18 states, along with Washington D.C., impose a 36% rate cap on payday loan interest rates and fees, according to the Center for Responsible Lending. But Sen. Reed, along with Sen. Sherrod Brown, D-Ohio, previously introduced legislation in 2019 that would create a federal 36% interest rate cap on consumer loans. Research conducted by the Consumer Financial Protection Bureau found that nearly 1 in 4 payday loans are reborrowed nine times or more.
Persons: Jack Reed, Goldman Sachs, Wells, Jane Fraser, Sen, Goldman, David Solomon, Brian Moynihan, Reed, Sherrod Brown, Sen . Brown, there's, Moynihan, they've Organizations: Banking, Housing, Urban Affairs, Bank of America, Citigroup, JPMorgan Chase, Citi, Chase, Washington D.C, Center for, Reuters, Research, Consumer Financial, Bureau, Currency, Federal Reserve, of American Locations: U.S, Ohio
Watch live: Bank CEOs return to Capitol Hill for second day of testimony
  + stars: | 2021-05-27 | by ( Thomas Franck | ) www.cnbc.com sentiment -0.99   time to read: +1 min
Please refresh the page if you do not see a player above at that time.] The bosses of the nation's largest banks will return on Thursday to Capitol Hill, where they will face another round of grilling from lawmakers. The bank CEOs appeared on Wednesday before the U.S. Senate Committee on Banking, Housing and Urban Affairs. One testy exchange from Wednesday's hearing came between Sen. Elizabeth Warren, D-Mass., and JPMorgan's Dimon. Warren accused JPMorgan Chase, and the other consumer banks, of not doing enough to communicate to its clients about relaxation of certain overdraft fees rules during the coronavirus outbreak.
Persons: JPMorgan Chase's Jamie Dimon, Wells Fargo's Charles Scharf, Citi's Jane Fraser, Goldman Sachs, David Solomon, Morgan Stanley's James Gorman, Bank of America's Brian Moynihan, Elizabeth Warren, JPMorgan's Dimon, Warren, JPMorgan Chase, Dimon Organizations: Capitol, Lawmakers, U.S . House, Financial Services, JPMorgan Chase's, Bank of America's, U.S ., Banking, Housing, Urban Affairs, CNBC, YouTube Locations: Sen
Wall Street bank chiefs touted the role their institutions have played in getting the pandemic-hit U.S. economy back on track and in promoting diversity and racial justice as they appeared before Congress on Wednesday. More than a decade after the 2008 financial crisis, the chief executives believe they have a good story to tell after getting $69 billion of COVID-19 aid to 850,000 struggling small businesses. Senator Sherrod Brown, a Wall Street critic who became chair of the Committee following Democratic gains during the 2020 election, signaled he would not go easy on the Wall Street lenders, saying their success navigating the pandemic was not enough. "Under the current system, Wall Street profits no matter what happens to workers, because those profits now come at the expense of workers," he told the CEOs in his opening remarks. Lawmakers are also likely to seek answers on evidence that lenders discriminated against some borrowers when distributing pandemic aid, whether Wall Street's wealthy pay enough taxes, and to justify stock buy backs.
Persons: Wells, Goldman, Morgan Stanley, Jamie Dimon, Jane Fraser, Fraser, Morgan Stanley's James Gorman, Fargo's Charles Scharf, Bank of America's Brian Moynihan, Goldman Sachs, David Solomon, Sherrod Brown, Wall, Patrick Toomey Organizations: Banking, JPMorgan Chase &, Bank of America Corp, Citigroup Inc, Wells Fargo & Co, Goldman Sachs, JPMorgan, Citigroup, Bank of America's, Democratic, Republican, Thomson
Wall Street bank chiefs were grilled by lawmakers over worker pay, executive compensation, climate change, wealth inequality, racial justice and the broader economy as they appeared before Congress on Wednesday during a frequently hostile hearing. In their opening testimonies, the CEOs were quick to highlight their pandemic relief efforts, their institutions' resilience, and initiatives' to address diversity and inequality. Citigroup chief Jane Fraser, the first woman to become a Wall Street bank CEO, acknowledged the pressing need to address "systemic inequities" including racial injustice and wealth inequality. Senator Sherrod Brown, a Wall Street critic who became chair of the Committee following Democratic gains during the 2020 election, took a tough line on the Wall Street bosses, saying their success navigating the pandemic was not enough. It's a bunch of baloney," she told Dimon in a fiery exchange for which the Massachusetts Senator has become renowned during hearings.
Persons: Wells, Goldman, Morgan Stanley, MS.N, Jamie Dimon, Jane Fraser, Fraser, Morgan Stanley's James Gorman, Fargo's Charles Scharf, Bank of America's Brian Moynihan, Goldman Sachs, David Solomon, Sherrod Brown, Dimon, Elizabeth Warren, Wall, Patrick Toomey Organizations: JPMorgan Chase &, Bank of America Corp, Citigroup Inc, Wells Fargo & Co, Goldman Sachs, Committee, JPMorgan, Citigroup, Bank of America's, Democratic, Street, Republican, Thomson Locations: Massachusetts, Georgia
Wall Street bank chiefs were grilled by lawmakers over worker pay, executive compensation, climate change, wealth inequality, racial justice and the broader economy as they appeared before Congress on Wednesday during a frequently hostile hearing. The bank CEOs performed well enough." Citigroup chief Jane Fraser, the first woman to become a Wall Street bank CEO, acknowledged the pressing need to address "systemic inequities" including racial injustice and wealth inequality. Senator Sherrod Brown, a Wall Street critic who became chair of the Committee following Democratic gains in the 2020 election, took a tough line on the Wall Street bosses, saying their success navigating the pandemic was not enough. The CEOs also got heat from progressive lawmakers over evidence that lenders discriminated against some borrowers when distributing pandemic aid and continued charging customers fees even as the lenders were enjoying federal regulatory breaks.
Persons: Wells, Goldman, Morgan Stanley, MS.N, Seiberg, Jamie Dimon, Jane Fraser, Fraser, Morgan Stanley's James Gorman, Fargo's Charles Scharf, Bank of America's Brian Moynihan, Goldman Sachs, David Solomon, Sherrod Brown, Dimon, Elizabeth Warren, Warren, Wall, Patrick Toomey Organizations: JPMorgan Chase &, Bank of America Corp, Citigroup Inc, Wells Fargo & Co, Goldman Sachs, Committee, Cowen Washington Research Group, JPMorgan, Citigroup, Bank of America's, Democratic, Street, Republican, Thomson Locations: Georgia
JPMorgan collected more overdraft fees than its immediate competitors, Warren said. It's a bunch of baloney," Warren told Dimon in a fiery exchange during which the pair, at times, spoke over each other. Dimon responded that JPMorgan waived overdraft fees for customers who asked. When Warren asked Dimon if the bank would refund the fees, he flatly said, "No." REUTERS/File Photos Read More"We believe this exchange only improves the prospects that the (Consumer Financial Protection Bureau) will look at further limits on overdraft fees," wrote Jaret Seiberg, an analyst at Cowen Washington Research Group.
Persons: Elizabeth Warren, Jamie Dimon, Warren, Dimon, Brian Moynihan, Jane Fraser, Wells, Charles Scharf, David Solomon, Morgan Stanley, James Gorman, Banks, JPMorgan, Goldman Sachs, Seiberg, Sherrod Brown Organizations: Wednesday, JPMorgan Chase &, Senate, JPMorgan, Bank of America Corp, Citigroup Inc, Wells Fargo & Co, Goldman Sachs, CNBC, JPMorgan Chase, Bank of America, Reuters, Consumer Financial, Cowen Washington Research Group, Financial, Democratic Party, Street, Democratic, Thomson Locations: Warren, Wells Fargo, Citigbank, Georgia
Wednesday's hearing is the first time the CEOs of the nation's largest banks have testified before the Senate Banking Committee since the aftermath of the 2008 financial crisis. Democratic gains in the 2020 election handed control of that panel to Senator Sherrod Brown, a fierce Wall Street critic. Citigroup's Jane Fraser, the first female CEO of a Wall Street bank, will be making her Capitol Hill debut. The CEOs are also likely to extol their banks' efforts to promote diversity and inclusion both externally and internally. In that regard, Wednesday will mark a watershed for the industry with Citigroup's Jane Fraser, the first female CEO of a Wall Street bank, making her Capitol Hill debut.
Persons: Goldman Sachs, Morgan Stanley, Sherrod Brown, Isaac Boltansky, Kevin Fromer, Citigroup's Jane Fraser, JPMorgan's Jamie Dimon, Morgan Stanley's James Gorman, Fargo's Charles Scharf, Bank of America's Brian Moynihan, David Solomon, Richard Hunt, Wall Organizations: Banking, Financial, JPMorgan Chase, Bank of America, Citigroup, Committee, Democratic, Compass Point Research, Trading, Financial Services, Capitol, Bank of America's, Consumer Bankers Association Locations: Wells Fargo, Washington
Goldman puts “long-term greedy” to work in China
  + stars: | 2021-05-26 | by ( Jennifer Hughes | ) www.reuters.com + 0.00   time to read: +3 min
Goldman Sachs (GS.N) was painstakingly diplomatic in selling the last of its stake in Industrial and Commercial Bank of China (601398.SS), (1398.HK) in 2013. Now it is back as the controlling partner in an asset management venture between the two that taps into Beijing’s push to develop its capital markets. Follow @JennHughes13 on TwitterCONTEXT NEWS- Goldman Sachs and Industrial and Commercial Bank of China said on May 25 that they are setting up an asset-management joint venture in the country. - The unit, which will offer a range of investment products, is the latest in a series of foreign-controlled fund management joint ventures since China began opening its financial markets to overseas control in 2018. Earlier this month, fund management giant BlackRock announced a tie-up with China Construction Bank and Singapore’s state fund, Temasek.
Persons: David M, Solomon, Goldman Sachs, Mike Blake It’s, Goldman, Amundi, David Solomon Organizations: Milken, Global Conference, REUTERS, Industrial, Commercial Bank of China, HK, Ben Advisors, China Construction Bank, Temasek, Bank of China, Commercial Bank of, BlackRock Locations: Beverly Hills , California, U.S, Hong Kong, China, BlackRock, Paris, Beijing, Commercial Bank of China, Singapore’s
Big Oil's day of reckoning on the climate is here
  + stars: | 2021-05-26 | by ( Julia Horowitz | Cnn Business | ) edition.cnn.com + 0.00   time to read: +8 min
You can sign up right hereLondon (CNN Business) The future of Big Oil could look very different following a critical shareholder meeting in the United States and a legal decision in Europe. "This is a really big deal," Tracey Cameron, senior manager of corporate climate engagement at Ceres, said in a statement. In some cases, Racine said, Amazon sellers are charged fees amounting to 40% of the total product price on Amazon. Big picture: Court cases against Big Tech companies could weigh on the sector, even if they're expected to drag on for years. A tie-up would give the tech firm a big brand to wield as competition in streaming grows fiercer.
Persons: We've, Andrew Logan, Glass Lewis, Exxon's, BlackRock BLK, Shell, Porter, Tracey Cameron, Karl Racine's, Racine, Sellers, Paul R, Monica, Kerry Killinger, , Killinger, JPMorgan Chase, Dodd, Frank, I'm, Fitch, Nvidia NVDA, Snowflake andfollow, JPMorgan Chase's Jamie Dimon, Citi's Jane Fraser, Goldman Sachs, David Solomon, Bank of America's Brian Moynihan Organizations: CNN Business, Bell, CNN, Big, Exxon, Reading, Institutional, Services, BlackRock, BlackRock BLK Reuters, Shell, Columbia Law School, Arnold, International Energy Agency, Google, Facebook, of Columbia, Amazon, DC, Big Tech, MGM, Washington Mutual, Federal Reserve, Abercrombie, Goods, Nvidia, Nvidia NVDA Williams, Sonoma WSM, Wall, Banking, JPMorgan, Bank of America's, Financial Services Committee Locations: London, United States, Europe, Netherlands, Paris
Pat Toomey (R-PA) speaks during a news conference to introduce the Republican infrastructure plan, at the U.S. Capitol in Washington, April 22, 2021. The top Republican senator in charge of overseeing Wall Street regulation is hoping the chief executives of the nation's largest lenders will "defend capitalism" when they appear before his committee. Sen. Pat Toomey, R-Pa., said that he wants to hear bankers defend the practice of stock buybacks and assure the GOP that political and social issues aren't influencing which businesses and individuals the lender choose to underwrite. "One of the things I'm hoping for, and I will urge these guys to do, is stand up and defend capitalism," he told "Squawk Box" Wednesday morning. "I hope they will defend the system that has created more opportunity and prosperity than any other system."
Persons: Pat Toomey, Sen, Banks, Toomey's, JPMorgan Chase's Jamie Dimon, Wells Fargo's Charles Scharf, Citi's Jane Fraser, Goldman Sachs, David Solomon, Toomey Organizations: U.S, Capitol, Republican, Wall, JPMorgan, Banking Committee Locations: Washington
Watch live: The nation's top bank CEOs testify before Congress
  + stars: | 2021-05-26 | by ( Thomas Franck | ) www.cnbc.com sentiment -0.87   time to read: +1 min
Please refresh the page if you do not see a player above at that time.] The chief executives of the nation's biggest banks kick off two days of congressional testimony on Wednesday before the Senate Banking Committee. Lawmakers will hear from JPMorgan Chase's Jamie Dimon, Wells Fargo's Charles Scharf, Citi's Jane Fraser and Goldman Sachs' David Solomon, Morgan Stanley's James Gorman and Bank of America's Brian Moynihan. The bank executives are likely to face complaints from both political parties, with Democrats hoping to address racial differences in lending and Republicans eager to quell corporations from taking stands on political issues. Subscribe to CNBC on YouTube.
Persons: JPMorgan Chase's Jamie Dimon, Wells Fargo's Charles Scharf, Citi's Jane Fraser, Goldman Sachs, David Solomon, Morgan Stanley's James Gorman, Bank of America's Brian Moynihan, Sen, Pat Toomey, he's, Ohio Democrat Sen, Sherrod Brown Organizations: Committee, JPMorgan Chase's, Bank of America's, Pennsylvania Republican, CNBC, Ohio Democrat, YouTube Locations: Pennsylvania
Jim Cramer on Big Banks CEOs preparing to testify on Capitol Hill
  + stars: | 2021-05-26 | by ( ) www.cnbc.com sentiment -0.70   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJim Cramer on Big Banks CEOs preparing to testify on Capitol HillBig Bank CEOs including JPMorgan Chase’s Jamie Dimon, Wells Fargo’s Charles Scharf, Citi’s Jane Fraser and Goldman Sachs’ David Solomon will kick off two days of hearings before the Senate Banking Committee on Wednesday. CNBC's Jim Cramer, Carl Quintanilla and David Faber discuss.
Persons: Jim Cramer, JPMorgan Chase’s Jamie Dimon, Wells Fargo’s Charles Scharf, Citi’s Jane Fraser, Goldman Sachs, David Solomon, CNBC's Jim Cramer, Carl Quintanilla, David Faber Organizations: Big Banks, Hill Big Bank, JPMorgan
Goldman Sachs CEO David Solomon testifies before Congress
  + stars: | 2021-05-26 | by ( ) www.cnbc.com sentiment -0.52   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoldman Sachs CEO David Solomon testifies before CongressDavid Solomon, CEO of Goldman Sachs, delivers his opening testimony in front of the Senate Banking Committee.
Persons: Goldman Sachs, David Solomon Organizations: Committee
Live Ford to Increase Spending on Electric Vehicles to $30 Billion: Live Updates RIGHT NOW Watch live: Wall Street chiefs face a grilling before the Senate. S&P 500 - % Dow - % Nasdaq - %Ford will spend $30 billion on electric vehicles, a big increase from earlier plans. The company intends to spend $30 billion in the five years ending in 2025, up from the previous target of $22 billion. “But the court believes that the consequences of severe climate change are more important than Shell’s interests, ” she added. The court appeared to have accepted the environmentalists’ argument that not taking drastic measures on climate change would put lives in jeopardy.
Persons: Jim Farley, Jeff Kowalsky, E.V.s, Henry Ford, , Ford, Biden, Peter Dejong, Darren W, Woods, don’t, Shell, Robin Utrecht, , Milieudefensie, ” Jeannette Honée, Ms, Honée, Stanley Reed, Goldman Sachs, JPMorgan Chase, Anna Moneymaker, Sherrod Brown, Jamie Dimon, Jane Fraser, ” James Gorman, Morgan Stanley, Charles Scharf, Wells, David Solomon, Brian Moynihan, Stocks, Spencer, Fabio Panetta, Panetta, ” Mr, , “ Tucker Carlson, Richard Drew, Jeanine Pirro, Rupert Murdoch, ” “ Hannity, Ingraham Angle, ” Fox, Jason Klarman, Lachlan Murdoch, Angela Weiss, York Times’s David McCabe, Karen Weise, Cecilia Kang, Karl Racine, Racine “, ” Jodi Seth, Racine Organizations: Ford, Electric Vehicles, Wall, Dow, Agence France, Tesla, South, SK Innovation, Lincoln, Exxon Mobil, Shareholders, Associated Press Exxon Mobil, Exxon, BP, New, California Public, Houston Ship Channel, Royal, Royal Dutch Shell, Shell, Court, Committee, Citigroup, JPMorgan, Credit, The New York Times, Financial Services, Senate, Democrat, Bank of America, Marks, Ocado, European Central Bank, Australian, Qantas, Fox News, Fox Nation, Associated Press Fox News, Fox, Nielsen, Fox Corporation, Amazon, Columbia, of Columbia, District of Columbia, Netflix, Hulu, Foods, Mr Locations: Michigan, South Korean, United States, Rotterdam, New York, Royal Dutch, Netherlands, The Hague, Wells Fargo, Ohio, Europe, Sydney, York
Some Wall Street banks are gearing up to get more workers back to office this summer. Some Wall Street banks are pushing ahead to get employees back in the office by mid-summer. CitigroupCiti is introducing a hybrid model that will let employees work from home a few days per week. A spokesperson for the company told Insider that the policies announced by Fraser and Wechter remain up-to-date. The company will employ a staggered approach for bringing people back, per an internal company memo reviewed by Insider.
Persons: Goldman Sachs, We've, Alliance Bernstein, Mike Blake, Goldman Sachs Goldman Sachs, Danny Moloshok, David Solomon, Goldman, John Waldron, Stephen Scherr, Bank of America Brian Moynihan, Joshua Roberts, Brian Moynihan, Erin Scott, Jane Fraser, Fraser, Sara Wechter, Wechter, FABRICE COFFRINI, Eric Varvel, Jay Kim, David Miller, Wells, Tom Williams, Charlie Scharf, Scott Powell, " Scharf, Powell, Scharf, Christian, Thomas Lohnes, James von Moltke, Lazard Kenneth Jacobs, Lazard, James Leynse, Getty Images Lazard, Hillary Haber, Haber Organizations: Wall, Deutsche Bank, Alliance, Accenture, JPMorgan JPMorgan, JPMorgan, Bloomberg, Bank of America, Labor, Reuters, Bank of, Citigroup Citi, Reuters Citi, Citi, LinkedIn, Credit, Credit Suisse, Getty, Madison, Reuters Wells, Deutsche Bank Deutsche Bank, Deutsche Bank's, Deutsche Bank Center, Getty Images, Lazard Locations: Zurich, AFP, New York City, Swiss, York, New York
The housing market is in a 'little bit of a bubble,' Jamie Dimon says
  + stars: | 2021-05-26 | by ( Matt Egan | Cnn Business | ) edition.cnn.com sentiment -1.00   time to read: +1 min
(CNN Business) Jamie Dimon acknowledged the housing boom may be getting out of hand, but the JPMorgan Chase (JPM) CEO isn't worried about a repeat of the Great Recession. Dimon acknowledged during a Senate hearing on Wednesday that there "is a little bit of a bubble in housing prices." But, he added, "unlike in '08 and '09, when there was tremendous leverage and bad mortgage underwriting, there is not much leverage and much better mortgage underwriting." His comments came in response to a question from Senator Jon Tester asking if there is a housing bubble . Dimon was the only big bank CEO to outright say there is a bubble , but he stressed the financial system is better positioned this time because banks have stocked up on loss-absorbing capital.
Persons: Jamie Dimon, isn't, Dimon, Jon Tester, Goldman Sachs, David Solomon Organizations: CNN, JPMorgan Chase, Federal Reserve
Wednesday’s hearing is the first time the CEOs of the nation’s largest banks have testified before the Senate Banking Committee since the aftermath of the 2008 financial crisis. Democratic gains in the 2020 election handed control of that panel to Senator Sherrod Brown, a fierce Wall Street critic. INDUSTRY WATERSHEDThe CEOs are also likely to extol their banks’ efforts to promote diversity and inclusion both externally and internally. In that regard, Wednesday will mark a watershed for the industry with Citigroup’s Jane Fraser, the first female CEO of a Wall Street bank, making her Capitol Hill debut. “Diversity, equity, inclusion – these banks have a great story to tell on these issues,” said Richard Hunt, chief executive of the Consumer Bankers Association.
Persons: Wells, Morgan Stanley, Sherrod Brown, ” Isaac Boltansky, , Kevin Fromer, Citigroup’s Jane Fraser, JPMorgan’s Jamie Dimon, Morgan Stanley’s James Gorman, Fargo’s Charles Scharf, Bank of America’s Brian Moynihan, Goldman Sachs, David Solomon, , Richard Hunt, Wall, Banks Organizations: Banking, Financial, JPMorgan Chase & Co, Bank of America Corp, Citigroup Inc, Wells Fargo & Co, Goldman Sachs Group, Committee, Democratic, Compass Point Research, Trading, Financial Services, Capitol, Bank of America’s, Consumer Bankers Association, Locations: Washington
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