格隆汇12月26日｜据英国《金融时报》，在特朗普政府推动行业放松监管以及投资银行复苏的带动下， 美国六大银行在2025年合计新增市值6000亿美元。据标普全球的数据，以资产计美国最大六家银行—— 摩根大通、美国银行、花旗、富国银行、高盛和摩根士丹利——的合计市值在周二收盘升至2.37万亿美 元，高于去年年底的1.77万亿美元。 ...

美国各大银行的首席执行官们纷纷盛赞，人工智能有望带来划时代的效率变革。 但这份效率提升，对银行员工而言意味着什么？是否预示着岗位缩减？ 本文梳理了银行业高管们公开发表的言论，还原他们对于人工智能时代银行员工规模规划的核心表态。 每当银行首席执行官们谈及人工智能，整个金融界都会高度关注 —— 从各类金融资讯账号到资本市场 均反响热烈。他们对生成式人工智能重塑职场的预判，足以牵动股价走势、改写企业战略，甚至为全美 企业的发展基调定下方向。 各大银行围绕生成式人工智能制定的规划，以及日趋落地的相关举措，也让外界得以窥见：这项技术究 竟会如何赋能职场人，又将在哪些领域取代人力。 而密切关注这些言论的，还有银行内部的数十万员工。美国多家头部投行的员工规模均超 10 万人；放 眼全美，受联邦存款保险公司承保的商业银行领域，从业者总数更是接近 200 万人。 这一庞大的从业者群体中，既有基层银行柜员，也有年薪上十亿美元的投行交易员，更有大批软件工程 师 —— 正是他们，在推动生成式人工智能的技术愿景落地成真。 为更清晰地呈现银行业高管的核心观点，本文整理了他们关于人工智能时代银行人员规模调整的核心表 态，这些言论也最能折射 ...

当华尔街大行的CEO们开始谈论人工智能时，整个金融界都会为之沸腾——从社交媒体上到股票市场无 不如此。他们关于生成式人工智能将如何改变工作的预测足以牵动股价、重塑战略，并为美国企业界定 下基调。 智通财经APP注意到，各银行围绕生成式AI制定的计划乃至日益增多的实际行动，都揭示了这项技术将 如何增强乃至取代人类员工。 许多大型银行各自雇佣着超过10万名员工，而受联邦存款保险公司(FDIC)保护的商业银行体系更广泛地 雇佣着近200万人。从银行柜员到年薪数亿美元的交易撮合者，再到将生成式AI梦想变为现实的庞大软 件工程师团队，皆在受影响行列。 为深入了解银行从业者的真实想法，智通财经APP梳理了人工智能时代下关于银行人力规模最引人注目 的言论。 摩根大通CEO杰米·戴蒙 直言不讳是戴蒙的一贯风格，这意味着他敢于承认裁员即将成为现实。 "AI会淘汰工作岗位，"戴蒙在本月早些时候的会议上坦言，"人们不该继续逃避现实。"这番言论与他今 年早些时候在俄亥俄州哥伦布市员工座谈会上的表态一脉相承，当时他曾表示AI将"改变部分工作岗 位"——无论是充当"副驾驶"、解决"重复性劳动"，还是直接取代岗位。 在更近期的采访中，戴蒙 ...

Core Viewpoint - The Federal Reserve has begun cutting interest rates in response to slowing economic activity and easing inflation, which is expected to benefit the banking sector, particularly Wells Fargo, Bank of America, and Citigroup [2][3]. Group 1: Impact of Interest Rate Cuts on Banks - Lower interest rates stimulate loan demand from both consumers and businesses, leading to increased lending activity, which can help banks grow loan volumes despite pressure on net interest margins [4]. - Improved credit quality due to lower debt servicing costs reduces the risk of delinquencies and defaults, allowing banks to focus on growth rather than balance-sheet defense [5]. - Falling rates enhance fee-based income streams as capital markets activity increases, benefiting investment banking, trading, and wealth management divisions [6][7]. Group 2: Company-Specific Insights Wells Fargo (WFC) - WFC aims to stabilize funding costs and grow loan assets aggressively, expecting stable net interest income (NII) in 2025 due to increased loan origination [8][10]. - The bank plans to diversify its revenue streams by expanding fee-rich franchises in investment banking, trading, and wealth management [9]. - The Zacks Consensus Estimate projects WFC's earnings growth rates of 16.8% for 2025 and 11.9% for 2026 [11]. Bank of America (BAC) - BAC is positioned to benefit from fixed-rate asset repricing and expects NII growth of 5-7% in 2026, following similar growth in 2025 [12]. - The bank is focusing on organic growth through the expansion of its physical and digital presence, planning to open over 150 financial centers by 2027 [13]. - The Zacks Consensus Estimate indicates earnings growth of 15.9% for 2025 and 14% for 2026 [14]. Citigroup - Citigroup has experienced a compound annual growth rate (CAGR) of 8.4% in NII over the past three years, with expectations for a 5.5% year-over-year increase in 2025 [15]. - The company is streamlining its consumer banking operations globally, which will free up capital for investments in wealth management and investment banking [16]. - The Zacks Consensus Estimate forecasts earnings growth of 27.6% for 2025 and 32.4% for 2026 [17].

Vi e w p o i n t | 23 Dec 2025 04:21:39 ET │ 16 pages Japan Economics Prospects for 2026：Will seeds of destabilization emerge amidst stability? CITI'S TAKE We expect Japan's GDP to grow at above-trend +1.0% in 2026, demonstrating resilience (albeit down modestly from +1.3% growth in 2025). As headline inflation temporarily falls below 2% and strong wage growth continues, headwinds facing purchasing power of consumers look likely to ease. We expect this situation to allow pass-throughs of rising costs to ser ...

有迹象显示，银行和贸易商们正竞相扩大贵金属交易部门和仓储物流能力，以把握今年黄金创纪录涨势 带来的机遇——这轮历史性的黄金大牛市，让沉寂多时的实物黄金交易和仓储托管业务，突然跃升为了 金融界"最暴利"的领域之一。 2025年黄金和白银价格的飙升行情，近期仍在不断再度加速。周三现货黄金价格首次突破每盎司4500美 元，银价本周则跨越每盎司70美元的里程碑。今年以来，金银累计涨幅分别达到了71%和150%。 数据分析公司Crisil Coalition Greenwich数据显示，在贵金属价格大涨的背景下，今年前九个月主要银 行贵金属交易部门的收入，已较2024年同期飙升了五成。 Crisil研究经理Callum Minns表示，"今年贵金属市场蕴藏巨大利润空间，各方都表现得相当积极。" 他补充道，对于顶尖银行而言，贵金属在其整体市场业务中所占的比例正变得越来越大。 根据Crisil的数据显示，今年1月至9月期间，12家业务领先银行的贵金属交易收入达到了约14亿美元， 这意味着2025年有望成为银行黄金交易史上第二好的年份，仅次于2020年。 招兵买马、布局金库 市场参与者透露，就连一些此前关闭贵金属交易部门的银 ...

今年，美国六大银行的市值总计增加了6000亿美元，这一增长得益于特朗普总统的放松监管议程以及投 资银行业务的全面复苏，从而引发了全面的金融反弹。 据标准普尔全球公司称，摩根大通(JPM.US)、花旗集团(C.US)、美国银行(BAC.US)、富国银行 (WFC.US)、高盛集团(GS.US)和摩根士丹利(MS.US)这六家银行的总市值目前已达到2.37万亿美元，而 在2024年底时仅为1.77万亿美元。这意味着在不到12个月的时间里，市值增长了超过三分之一。 与此同时，欧洲的六大银行总市值仅为1万亿美元。这一差距并非凭空出现，而是多年来规则不均衡的 结果。 然而，如今随着特朗普放松危机后的监管，美国的银行终于摆脱了2008年后加诸其身的种种束缚。并 且，它们已经连续第二年跑赢更广泛的标普500指数。 特朗普放宽银行监管，银行囤积资本准备扩张 早在2008年，金融危机催生了一系列规定，这些规定大幅削减了银行利润。更高的资本要求、更严格的 放贷标准以及压力测试让银行对投资者而言变得乏味无趣。但如今，情况已经改变。 特朗普政府的监管机构已经开始允许最大的几家贷款机构提高杠杆率。他们修改了决定银行必须持有多 少资本的 ...

特朗普政府推动的金融去监管化与投行业务复苏，驱动美国六大银行市值今年累计增加6000亿美元。 截至周三收盘，摩根大通、美国银行、花旗集团、富国银行、高盛和摩根士丹利六家美国最大银行的总市值已超2.38万亿美元，较去年底的1.77万 亿美元大幅攀升，并有望连续第二年跑赢标普500指数。 RBC银行业分析师Gerard Cassidy表示： 不能低估监管变化对股价的重要性。金融危机后，银行盈利能力受到严重削弱，因为它们不得不持有更多资本，这确实是应该的。 更重要的是，银行业预期巴塞尔协议III全球资本金规则的最终实施版本将比拜登政府2023年的初始提案宽松得多。Cassidy指出： 它们都持有过剩资本，因为已经按照之前的提案进行了储备。 相比之下，欧洲市值最高的六家银行总市值仅为1万亿美元，凸显出2008年金融危机以来美欧银行业分化日益扩大。 监管政策转向成为推动股价上涨的关键因素。今年以来，美国监管机构已提议允许最大型银行提高杠杆率，全面改革用于确定资本要求的年度银 行压力测试，并撤销了针对高风险贷款的放贷指引。 投资银行业务强劲复苏进一步提振市场信心。花旗股价今年上涨超70%，领跑六大银行。高盛股价攀升近60 ...

Core Insights - Citigroup Inc. is accelerating its investment banking growth plans in Japan to capitalize on a significant boom in merger and acquisition activity, aiming for a 30% increase in its Japan IB headcount by the first half of 2026 [1][10] Group 1: M&A Market Dynamics - Japan's M&A market is projected to reach around $350 billion by the end of 2025, marking the highest level on record [2][10] - Companies in Japan are increasingly engaging in strategic acquisitions while divesting non-core assets, leading to a steady pipeline of large-scale deals [3] - Innovative financing structures are being utilized, combining equity and traditional debt with private credit from long-term investors, which helps preserve credit ratings and reduce funding costs [3][4] Group 2: Citigroup's Strategic Positioning - The growing use of innovative financing strategies is expected to further boost Japan's M&A activity, reinforcing Citigroup's decision to expand its market presence [4] - Citigroup's expansion is part of a broader strategy to deepen its presence in Asia's advanced economies, leveraging global investment capabilities with localized execution [5] Group 3: Competitive Landscape - Other global players like Goldman Sachs and BlackRock are also strengthening their positions in Japan's market [6] - Goldman Sachs is gaining momentum by offering integrated solutions across traditional and alternative asset classes, reaffirming Japan as a strategic market [7] - BlackRock has been expanding its offerings tailored to Japanese investors, focusing on global fixed income, private assets, and thematic strategies [8] Group 4: Performance Metrics - Citigroup's shares have increased by 68.2% over the past year, outperforming the industry's growth of 37.5% [9]

Core Insights - The article discusses the significance of stocks reaching new 52-week highs, indicating positive momentum and attracting investor interest [1][2]. Group 1: Market Performance and Economic Factors - Major banks like Citigroup Inc., U.S. Bancorp, and Bank of America have reached new 52-week highs, with all three stocks rising over 10% in the past year [3]. - The rally in bank stocks is supported by overall market strength and improved economic data, with the U.S. GDP growing at an annualized rate of 4.3% in Q3 2025, surpassing the previous quarter's 3.8% growth [4][7]. - Investor sentiment is bolstered by monetary policy support, with the Federal Reserve reducing interest rates by a cumulative 75 basis points this year, expected to further cut rates in 2026 [8]. Group 2: Company-Specific Developments - Citigroup has received regulatory relief, allowing for greater strategic flexibility and supporting its growth initiatives, with projected total revenues exceeding $84 billion in 2025 [10][11]. - Bank of America anticipates a 5-7% year-over-year increase in net interest income (NII) for 2026, driven by fixed-rate asset repricing and a strong lending environment [16][19]. - U.S. Bancorp is expanding its digital capabilities and has made several acquisitions to diversify revenue streams, with a focus on enhancing fee-based businesses [23][24]. Group 3: Earnings Estimates and Growth Projections - Citigroup's earnings are projected to grow by 27.4% and 32.6% for 2025 and 2026, respectively, with a Zacks Consensus Estimate indicating a current quarter estimate of $1.77 [12][13]. - Bank of America's earnings are expected to grow by 15.9% and 13.9% for 2025 and 2026, with a current quarter estimate of $0.96 [19][20]. - U.S. Bancorp's earnings are projected to grow by 14.3% and 7.5% for 2025 and 2026, with a current quarter estimate of $1.19 [25][27].