Charles Scharf, chief executive officer of Wells Fargo & Co., and Jane Fraser, chief executive officer of Citigroup Inc.
Caroline Brehman | Qilai Shen | Bloomberg | Getty Images
Walk the halls of any major banking conference or listen in on a quarterly earnings call, and one topic keeps coming up: With the window for mergers wide open under the Trump administration, who will take a swing?
After years on the sidelines because of regulatory restrictions, large banks can once again contemplate buying other lenders, even a $100 billion-plus-asset regional bank.
While JPMorgan Chase and Bank of America are barred from such a deal because they already have more than 10% of national deposits, there are two megabanks that could pursue a large acquisition: Citigroup and Wells Fargo. The nation’s third- and fourth-largest banks have enough room under the national deposits cap to pursue a hefty regional bank, according to investment bankers,…
