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After announcing its fourth quarter results last week, Bank of America is due to announce its bonuses next week and when it does, there may be disappointment. Bank of America could benefit from disappointing a few people; they won't leave.
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It was an unfortunate end to the year. Bank of America's fixed income traders didn't do nearly as badly as Citi's in the fourth quarter, but they didn't do well either. Fixed income currencies and commodities (FICC) revenues at the US bank fell 6% year...

The 12th of January has been a bit of a Superday for bank results, with JPMorgan, BofA, and Wells Fargo all reporting, that doesn’t mean everyone’s done well.
That includes Citi. As CEO Jane Fraser said, the fourth quarter was “very disappointing” for the bank, despite some “substantial” progress that was made in the bank’s well-known restructuring plan, nicknamed internally “Project Bora Bora”....

Following a pretty terrible set of results in its institutional client unit (investment bank), Citi has just announced a new set of job cuts, starting the week of January 22nd.
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In a memo to Citi staff, sent today, CEO Jane Fraser said euphemistically that during the week of January 22nd, the bank will begin its "next layer of changes" to how the firm is organized. Citi is "on track to conclude the reorganization by the end...