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Search resuls for: "Jeffery Harte"


2 mentions found


NEW YORK (Reuters) - When Brian Moynihan took the reins at Bank of America Corp in 2010, the U.S. bank was reeling. Since then, Moynihan, 61, has not just righted the ship, but transformed Bank of America, leaving analysts, industry people and some investors wondering what - and who - comes next. That leaves Moynihan with a new challenge over the next few years: determining who would best replace him, and marketing that person to the world without alienating other senior executives. Yet it leaves Moynihan as the longest-tenured CEO on Wall Street who has not offered a crisp idea of who is next, analysts said. “Now that he has four or five years of runway left, investors should be rightfully saying, ‘Hmmm,’” said one former bank employee.
Persons: Brian Moynihan, Shannon Stapleton, Moynihan, , , Sydney Finkelstein, Ken Lewis, Finkelstein, “ You’re, ” Moynihan, Piper Sandler, Jeffery Harte, , ’ ”, Raul Anaya, Dean Athanasia, Cathy Bessant, Steve Boland, Alastair Borthwick, Jim DeMare, Andy Seig, PNC’s Mike Lyons, Mark Chancy, Moynihan’s, Tom Montag, Montag, Warren Buffett, ” Buffett Organizations: YORK, Bank of America Corp, Bloomberg Global Business, REUTERS, of America, Bank of America’s, Dartmouth’s Tuck School of Business, Bank of America, Wall, Bank of, Justice Department Locations: U.S, New York City , New York, Bank
(Reuters) - U.S. bank shares outperformed the broader market on Monday, led by Goldman Sachs and Morgan Stanley, after the Federal Reserve said stress test results meant the sector could resume stock buybacks for the first time since the coronavirus-led downturn. Earlier this year, the Fed barred banks from buying back stock to help them build capital reserves because of the COVID-19 pandemic. Morgan Stanley was up 5.9% and trading at its highest since September 2007. In comparison, the S&P 500 bank subsector, which does not include Goldman or Morgan Stanley, was up 3.1%. As for Goldman Sachs, Harte noted that investors had worried more about the bank’s dividend prospects during the pandemic.
Persons: Goldman Sachs, Morgan Stanley, Goldman, Piper Sander, Jeffery Harte, , , Harte, Goldman wouldn’t, Grant, Keefe, Refinitiv Morgan Stanley’s, JPMorgan Chase, gainers Organizations: Reuters, Federal Reserve, Fed, JPMorgan, Citigroup, Bank of America, European Union Locations: United Kingdom, Britain
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