Thursday, September 6, 2007
Some investors have questioned whether the synergies are really there at the universal banks, or whether they would be more profitable if broken up into their constituent parts. At least to date, however, the three universal banks -- Citigroup, J.P. Morgan, and Bank of America -- are outperforming investment banks. When the credit and mortgage markets are under stress, they can fall back on traditional banking business. WSJ, Do-It-All Banks' Big Test.