NEW YORK — New Wells Fargo & Co. CEO Charlie Scharf’s first overhaul included bringing in yet another former JPMorgan Chase & Co. executive and breaking the firm’s main businesses into smaller fiefdoms. The reorganization divides the bank’s business lines into five units from three previously, Wells Fargo said in a …
Read More »Ford’s lending arm generates more profit than ever
Aside from F-series pickups hauling in gobs of profit, Ford Motor Co.’s automotive business isn’t carrying much weight lately. Thank goodness for the finance guys. Ford Motor Credit, the lending arm that’s become accustomed to propping up the company in good times and bad, now generates about half of the …
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