Major US Banks Deposit $30B in First Republic in Wake of Silicon Valley Bank Collapse

Last week, 11 banks, including Bank of America, Citigroup, JPMorgan Chase and Wells Fargo, combined to make $30 billion in uninsured deposits in First Republic Bank to display confidence in the U.S. banking system following the collapse of Silicon Valley Bank. read more

MAR 20, 2023 - 7:22 am

GE Completes Sale of Asset Management Business to State Street

GE completed the sale of GE Asset Management, the company’s investment management arm, to State Street. read more

JUL 5, 2016 - 6:32 am

GE Sells Asset Management Arm to State Street

State Street will acquire GE Asset Management, GE’s investment management arm, for up to $485 million, subject to adjustments. The sale is expected to close in Q3/16. read more

MAR 31, 2016 - 7:30 am

Bloomberg: S&P Cuts Ratings on Eight Large Banks

Bloomberg reported that JPMorgan Chase, Bank of America and Wells Fargo are among eight large U.S. banks that had credit grades cut one level by Standard & Poor’s on the prospect that the U.S. government is less likely to provide aid in a crisis. read more

DEC 3, 2015 - 7:21 am