Wells Fargo, which reported earnings Jan. Owes its relative good fortune partly to Europe ‘s sovereign debt crisis, the investment banking results in the second half of last year suggested with JPMorgan, with Goldman Sachs and other companies? large trading desks and international divisions.
Said U.S. Lenders begin, more like utilities carry with smaller growth and less influence. Goldman Sachs may never generate 10 % or 12 % growth rates again, he said.
The focus on the U.S. And abandonment of traditional Wall Street businesses such as structured products, Wells Fargo surpassed earnings at Goldman Sachs Group Inc. And Citigroup Inc. For six consecutive quarters. Wells Fargo, whose $ 1300000000000 in assets make it the fourth-largest U.S. Bank, also has higher ratings than its bigger counterparts.. Markets showed little improvement in the fourth quarter, the trade remained subdued, corporate and institutional customers stayed out of the markets and the holidays and delayed trade deal. Continue reading