Ken Lewis decision to step down as chief executive of BofA follows a contentious nine months in which he battled regulators and lawmakers over the controversial takeover of Merrill

Bill Winters’ departure has triggered fevered speculation not only about his own future, but about the bank’s future shape in Europe

JPMorgan Chase’s investment bank is planning a push to win more business outside the US by building on the group’s financial ties with companies around the world, its new head said.

Bank of America agreed to sell part of its Columbia Management business to Ameriprise Financial for about $1bn, raising cash towards the eventual repayment of taxpayer funds.

Jes Staley, 52, named chief executive of JPMorgan’s investment banking division, has spent three decades with the bank, two of them in the investment bank.

Jamie Dimon’s surprise decision to oust Bill Winters and elevate Jes Staley, a 30-year employee of JPMorgan, to the role of the investment banking chief and de facto heir apparent is a bold one.

Dan and Peggy Fultz have run Bagley Hardwood Products for 21 years. The downturn in the economy caused some hardship. They each took a 30 percent pay cut and had to lay off 21 of 33 employees, including their children.

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