Thursday, April 5, 2012

JPMorgan exec earns more than BofA counterpart

Executive pay. JPMorgan Chase & Co.'s investment banking head made more in 2011 than his counterpart at Bank of America, Bloomberg reports. Jes Staley earned $16 million, ahead of Bank of America co-chief operating officer Thomas Montag, after the executives pulled in the same amount in 2010.

Wall Street wealth. It's difficult to become one of the world's wealthiest individuals by working on Wall Street, the New York Times writes. But even before the financial crisis, Wall Street rarely made anyone the richest of the rich.

Too many rules? The Wall Street Journal examines the balance between regulation and innovation. Bankers argue government rules go too far, stifling economic growth, while opponents say too many banks are still too big to fail.

Credit ratings.
Morgan Stanley CEO James Gorman is in talks with Moody's in an attempt to maintain the company's credit ratings and hold off a downgrade, people familiar with the matter told the Financial Times.