(Bloomberg) -- The investment-banking bonanza is only just beginning. Most Read from BloombergEarly Omicron Breakthroughs Show MRNA Vaccines’ WeaknessStocks Drop as Selloff Puts Nasdaq Into Correction: Markets WrapMicrosoft Buys Scandal-Tainted Activision in Bet on MetaverseWhy Some Vaccinated People Resist Omicron and Others Don’tCovid-19 Infected Lions Prompt Variant Warning in South AfricaWall Street’s five largest lenders generated a record $55 billion in revenue last year from putting toget
Citigroup recently announced that it plans to exit or sell the consumer, small business, and middle-market banking operations of its Mexican subsidiary Banamex.
NEW YORK (Reuters) -Big U.S. banks will spend more on salaries and benefits this year as inflationary pressures, pandemic risks and the tight labor market force them to raise wages to get and keep workers. The nation's six biggest banks - JPMorgan Chase & Co, Bank of America, Citigroup, Wells Fargo & Co, Morgan Stanley and Goldman Sachs Group Inc - have taken steps to raise some workers' wages in 2021 and several raised expense projections for the coming year. The cut-throat competition has forced investment banks and wealth managers like JPMorgan Chase, Bank of New York Mellon and Goldman Sachs to pay more to recruit and keep talent https://www.reuters.com/world/us/banks-say-they-are-paying-up-talent-hiring-is-competitive-2022-01-14 in some of its most lucrative jobs.