Bearish
Bank of America CEO projects Q3 investment banking fees to drop over 10%
Bank of America's CEO, Brian Moynihan, anticipates a decline of at least 10% in investment banking fees for the third quarter, citing a general downturn in the market. This projection has contributed to a decrease in the bank's stock price.
Key points
- CEO Brian Moynihan forecasts a decline of at least 10% in Q3 investment banking fees.
- Sales and trading revenue is expected to remain flat in Q3.
- Despite the anticipated fee decline, the bank's deals pipeline remains strong.
Sources
AI-generated from public news sources. Not financial advice.
