Spencer Plate / Getty Images Weights Fargo plans to sell its asset management business for 3 million after a 57% drop in third-quarter profits, Reuters reported. The bank’s asset management arm, which provides high net worth customers, will be part of this business. US Bank has held talks with potential …
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Bill Pugliano / Stringer / Getty Images Bloomberg said War Run Buffett has cut its holdings in Wells Fargo because the bank’s board went against his advice and appointed the chief of New Street as its new CEO, Bloomberg said. Well-known investor and Berkshire Hathaway CEO told the Financial Times …
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Citigroup was fined by federal banking regulators on Wednesday Inc. C 0.97% Million 400 million and ordered the country’s third-largest bank to improve its risk-management systems, citing “significant ongoing shortcomings.” The consent order, approved by the board of New York Bank, blamed Citigroup for a reduction in “various areas of …
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Charles Scarf, chief executive of Wells Fargo, angered some black employees at a zoom meeting this summer, when he reiterated that the bank was having difficulty reaching diversification targets because there were not enough qualified minority talent. He also insisted in a company-wide memo on June 18 that nationwide protests …
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Berkshire Hathaway now owns 981.6 million Bank of America shares worth around $ 24 billion. Houston Cofield / Bloomberg Text size Bank of America is Warren Buffett’s favorite bank. Berkshire Hathaway (ticker: BRK.B) collected 33.9 million shares last week, paying around $ 810 million, or an average price of around …
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