Edition:
United Kingdom

Imani Moise

Wells Fargo ends forced arbitration for sexual harassment claims

13 Feb 2020

Wells Fargo & Co on Wednesday ended its forced arbitration policy for employee sexual harassment claims, opening the lender to potential lawsuits in the future.

Wells Fargo CEO Scharf shakes up management at scandal-hit bank

11 Feb 2020

Wells Fargo & Co Chief Executive Charles Scharf on Tuesday announced his first major reshuffle since taking over in October, naming several executives to new roles while also tapping a JPMorgan veteran to head consumer lending.

Bank of America CEO Moynihan's 2019 compensation unchanged at $26.5 million

08 Feb 2020

Bank of America Corp kept Chief Executive Officer Brian Moynihan's 2019 compensation flat at $26.5 million, according a filing on Friday.

Wells Fargo hires Santander executive to oversee sales practices

04 Feb 2020

Wells Fargo & Co has hired Michael Cleary from Santander Holdings USA Inc to lead sales practices oversight and management, according to an internal memo seen by Reuters.

U.S. bank regulator charges ex-Wells Fargo executives for role in sales scandal

23 Jan 2020

WASHINGTON Wells Fargo & Co's U.S. regulator on Thursday announced it had banned former Chief Executive John Stumpf from the banking industry and charged him and seven other former executives combined more than $58 million in civil penalties for their roles in the bank's multi-year sales practices scandal.

With record profits on Wall Street, small bonuses will annoy bankers: experts

22 Jan 2020

NEW YORK Most Wall Street banks announced their fourth quarter profits beat industry expectations last week. But by the end of this week, bank sources and compensation experts told Reuters, most of their staff will be underwhelmed by their bonuses.

Bank of America adds advisors to cater to the ultra-wealthy

16 Jan 2020

Bank of America Private Bank , formerly U.S. Trust, is doubling down on efforts to court more business from the country's wealthiest individuals, an executive told Reuters.

Citigroup female employees earn 27% less than men

15 Jan 2020

Citigroup's female employees earn 27% less than male employees on average, when factors like title and location are not taken into account, the Wall Street bank said on Wednesday.

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