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JPMorgan Chase books record profits

JPMorgan Chase & Co. posted a 55% increase in quarterly earnings, energized by gains in its investment banking and asset management businesses.


Morgan Stanley hires Asia investment boss

Morgan Stanley has hired Blair Pickerell as its managing director and head of investment management for Asia, according to published reports.


State Street boasts profits hit highpoint

State Street Corp. posted an 11% increase in net income on stronger servicing and investment management fees, which boosted revenue to a record level.


Schwab profits rise 12%

Charles Schwab Corp. posted a 12% increase in net income for the first quarter, as new customers increased assets in client accounts.


Wachovia adopts changes to board election

Wachovia Corp. shareholders have approved two proposals by the company's board that will affect how directors are elected and how often.


Mellon posts juicy first quarter

Mellon Financial Corp. reported a 22% increase in first-quarter profit after an acquisition helped boost its assets over the $1 trillion mark.


Jefferies books record banking revenues

Jefferies Group Inc. announced record quarterly investment banking revenues, net revenues, net earnings, and earnings per share, according to a statement released today.


Wells Fargo sees 11% profit hike

Wells Fargo & Co. posted an 11% increase in first-quarter profit, resulting from growth in lending and a higher-net interest margin, which set off increasing credit losses.


TD Ameritrade takes 2Q fall

TD Ameritrade Holding Corp. posted an 18% drop in second-quarter net income today, one year after the company recorded its largest one-time gain.


Smith Barney not for sale, executive says

Along with the layoffs and cost cutting unveiled last week by Citigroup Inc. came rumors that the company’s Smith Barney brokerage unit was destined for a spinoff.


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