Wall Street reporter for Bloomberg News, covering Citigroup and Wells Fargo. Tips welcome at dcampbell27[at]bloomberg[dot]net

GE Said in Talks With Blackstone, Mitsubishi on Financial Assets

bloomberg.com — General Electric Co. is discussing the sale of parts of its finance business, including the $74 billion U.S. commercial-lending unit, with potential buyers including Blackstone Group LP, Mitsubishi UFJ Financial Group Inc. and Wells Fargo & Co., people with knowledge of the matter said.

Citigroup Mortgage Trader Ertas Said to Leave for Annaly Capital

bloomberg.com — Ilker Ertas, head of a desk that trades mortgage bonds at Citigroup Inc., resigned this week, according to a person briefed on his departure. Ertas is joining Annaly Capital Management Inc., according to other people, who asked not to be identified discussing personnel matters.

Citigroup Beats as Expense Cuts Cushion Trading Slump

bloomberg.com — Citigroup Inc., the third-largest U.S. bank, boosted profit more than analysts estimated after a cost-cutting push helped it weather a slump in trading. First-quarter net income jumped 21 percent to $4.77 billion, or 1.51 cents a share, the firm said Thursday.

Chase, Wells show further decline in net interest margin

northjersey.com — JPMorgan, Wells Fargo show new margin drop JPMorgan Chase & Co. and Wells Fargo & Co. proved again that the largest U.S. banks can't find enough productive uses for billions of dollars in customer deposits.

Deposit Deluge at JPMorgan, Wells Fargo Sinks Lending Margins

bloomberg.com — JPMorgan Chase & Co. and Wells Fargo & Co. proved again that the largest U.S. banks can't find enough productive uses for billions of dollars in customer deposits. The lenders showed a further decline in net interest margin -- the spread between what they make on loans and pay for funding -- as they reported first-quarter results Tuesday and said higher deposit balances were mostly to blame.

Wells Fargo Beats Estimates as Lower Rates Spur Mortgage Lending

bloomberg.com — Wells Fargo & Co., the most valuable U.S. bank, posted profit that beat analysts' estimates as lower interest rates spurred more borrowers to purchase homes or refinance debt. First-quarter net income fell 1.5 percent to $5.8 billion, or $1.04 a share, from $5.89 billion, or $1.05, a year earlier, the San Francisco-based company said Tuesday in a statement.

Citigroup’s Stephen Bird to Replace Medina-Mora as Consumer Head

bloomberg.com — Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Citigroup Names Bird as Consumer Chief to Succeed Medina-Mora

bloomberg.com — Citigroup Inc. named Stephen Bird as head of the global consumer bank, putting in place an executive to deal with fallout from fraud at the Mexico unit and oversee a business that generates more than $36 billion in annual revenue.

For Shale Drillers, Low Oil Prices Have a $26 Billion Upside

bloomberg.com — Shale drillers didn't count on prices staying high forever. While oil traded for more than $90 a barrel last year, many bought insurance against a crash. Now that prices have plunged more than 50 percent in less than a year, drillers have started to collect.

Blankfein’s Bet on Goldman Sachs Bond Trading Seen Reaping Gains

bloomberg.com — Lloyd Blankfein didn't change course as revenue from trading debt, commodities and currencies at Goldman Sachs Group Inc. fell more than 50 percent over the past five years. Now it's time for that patience to start paying off.
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Apr 23, 2015

@benharnett ah, totally jealous. Have a great time. Tell Sam I said hi!

Apr 21, 2015

Is this guy crazy, or really on to something? I'm leaning toward the latter bloom.bg/1DInywY via @business

Apr 21, 2015

GE Said in Talks With Blackstone, Mitsubishi on Financial Assets bloom.bg/1Gcd75L via @business

Apr 17, 2015

Citigroup Mortgage Trader Ertas Said to Leave for Annaly Capital bloom.bg/1ERrrlb via @business



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