According to Fierce Finance online “the outlook for major US banks’ equity trading and investment banking business may be brightening a bit”. Their report goes on to say that revenue for the top 5 US banks increased by almost 40% “year over year in the fourth quarter”. Big banks have been trying to clean up their reputation and make consumers feel comfortable since the economic crisis in 2007. The banks seem to finally be turning the corner and costumers are feeling good about investing again.
State Street is a global leader when it comes to providing financial services to their customers. Although their home office is in Boston, MA they have offices all over the world and retain over $22.4 trillion in assets. According to Reuters a January 2013 report showed their stock went up by 6% and their revenue is up 7%. The main services they provide deal with investment, trading, and investment research and management.
Fisher Investments is a multi-billion dollar company that has been around since 1979. One of the great things about this firm is that although they have the expertise and resources to service wealthy clients and Fortune 500 companies, they also have many working retirees as clients as well. Fisher Investments office address has them listed with 3 US based locations and 2 in Europe.
East West Bankcorp
East West currently holds about $22 billion in assets and offers a number of financial services for individuals and professionals. A few of the services they provide are designed for:
· Independent pharmacists.
· New immigrants.
· Investment services for retirees, college, mutual funds, cash management.
· Commercial and personal insurance.
Their average equity return runs about 12% and they offer unique investments like Chinese Renminbi- linked CD’s and Greater China Investment Index Cd’s.
Bank of New York Mellon
BNY Mellon is a multinational bank that most recently made news in the Los Angeles Times for settling $210 million against a Bernie Madoff case. In spite of the troubles with Madoff, BNY Mellon has a long and solid history and currently has approximately $1.4 trillion under management and around $27.69 trillion under custody. They offer investment services as well as investment and wealth management. A few of the services they help with are asset servicing, collateral services, corporate trust, derivatives, broker-dealer services, global markets, and treasury services.
1st Source Bank
1st Source Bank isn’t as big as the other institutions, but they made Forbes’ top 25 list for Best Banks. They have been around since 1863 and have continued to grow based on living out their mission of helping “individuals, institutions, businesses, and communities achieve security, build wealth, and realize their dreams”. According to their Corporation Reports Annual Earnings report they have hit a record net income which had increased 2.98% over the previous year’s earnings.
Although the US went through a tough time with big banking a few years ago, the institutions are showing that not only are they climbing out of the debt holes but they’re actually growing stronger. Now is a great time to consider reinvesting with a big bank.