Investment banking

College sophomores are applying for jobs before they've even taken a finance class. Goldman Sachs CEO David Solomon says he dislikes the process, but doesn't have the power to change it.

After rapid changes in U.S. trade policy, banks and their clients are putting merger deals on ice until the dust settles.

The $4 trillion-asset bank posted its highest-ever annual profit but also said its CEO succession plan is still in the works.

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.

The bank, which acquired General Electric’s health care lending business in 2015, is looking to expand its presence amid a merger boom in the sector.

Morgan Stanley agreed to purchase Eaton Vance for about $7 billion in CEO James Gorman's second major acquisition this year, both of which tilt the investment bank further toward the steadier business of money management.

Goldman Sachs Group shuffled its business lines and announced a raft of management changes, carving out new divisions aligned with a strategy pivot unveiled earlier this year.

The bank has recouped part of the payment, which it blamed on a clerical error, but some of the lenders say they were owed the money in connection with an ongoing dispute.