Bank of America Corp (NYSE:BAC) has more than a few sources of income that are trending higher as well as it should produce earnings that fuel further stock price surges into 2015. As long as credit quality persists to get better BAC is over-provisioned for losses it will incur and it will be free to increase net income going forward. On the other hand Bank of America Corp with UBS AG and Barclays Plc, worked on the the IPO of JD.com Inc. (JD), creating a conflict that kept them from working on Alibaba’s sale, according to Bloomberg, citing people with knowledge of the subject.
Citigroup Inc (NYSE:C) aims to taking its OneMain Financial Inc personal loan business public by September end, according to Bloomberg quoting people with knowledge of the issue. OneMain, which is value as a minimum $4B, it is anticipated to start considering offers from possible buyers. On the other side, Citigroup Inc told bidders for its Japanese retail banking operations that it was expecting to sell its profitable Diners Club card business in Japan by means of the retail unit, according to Reuters.
The investment banking unit of Wells Fargo & Co (NYSE:WFC), Wells Fargo Securities apppoint Tim Mullins, co-head of the firm’s securities’ markets division, as senior wholesale market and credit risk officer, according to Reuters. In his new role, Mullins will be accountable for managing market, credit, and counterparty risk for Wells Fargo securities and corporate banking. He will report together to David Weber, executive VP and chief credit officer of the Wells Fargo wholesale banking group, as well as Jonathan Weiss, president and head of Wells Fargo securities.
