Investment banking

The investment banking giant said that it will "moderate" its pace of share repurchases as it continues to talk to the Federal Reserve, which recently increased its stress capital buffer from 5.5% to 6.4%.

Investment banking fees shot up at the nation's largest bank, thanks to rebounds in M&A and the equity capital markets segment. And despite higher credit costs in the company's card business, a top bank executive expressed confidence in the health of U.S. consumers.

After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.

First-quarter results at the companies were promising for other banks looking to reel in fees from capital markets activities as deposit costs put pressure on net interest income.

Two weeks after Ted Pick rose to CEO, the company slightly revised its long-term targets for efficiency, return on tangible common equity and other metrics. Yet, Pick says, "there's not a change in strategy" after the departure of his predecessor, James Gorman.

Regulators are looking into practices within JPMorgan's securities arm and investigating parts of its trading operations, according to a regulatory filing by America's largest bank.

Ted Pick, a co-president and three-decade veteran of the firm, will be elevated to the top role in January and join the board, the bank said in a statement Wednesday.

The moves will result in a number of job cuts, though the company doesn't yet have firm targets for how many employees will be affected.

Truist Financial eliminated about 5% of its investment banking division amid uncertainty surrounding the dealmaking environment, according to people with knowledge with the matter.

Corporations are navigating shifting geopolitics, and M&A bankers are advising them as they consider selling off faraway units and focusing more on assets closer to home or in friendlier countries.