Citi to Help Dress Finance Bros; Bank CEOs Square Off: Finance Winners and Losers

NEW YORK (TheStreet) -- Even Wall Street banks took a moment to celebrate the U.S. Supreme Court's ruling on same-sex marriage. Dealbreaker, a snark-filled blog for finance followers, captured some of the best tweets banks wrote in favor of the ruling. Goldman Sachs' (GS) even had a flag ready for the occasion.

Despite it being a day of celebration, there was still work to do. Sort of.

Citi (C) announced a multi-year credit card relationship with Brooks Brothers, Bloomberg ranked the top bank CEOs, and Wells Fargo (WFC) went deeper into manufactured housing after acquiring a portfolio of General Electric (GE) real estate loans.


Citigroup announced on Friday that its retail services division will be partnering with Brooks Brothers to offer private label and co-branded credit cards.

It is a special partnership as Brooks Brothers has been one of the premier outfitters for finance bros throughout its nearly 200-year history. Citigroup, meanwhile, has been expanding its partnerships since the beginning of 2014, adding Best Buy and Volkswagen to its portfolio. 

Shares of Citigroup closed up 0.3% to $56.34.


In a story that is made for a Friday, and in true Finance Winners and Losers fashion, Bloomberg created a tournament bracket to name the best banking CEO.

Bloomberg ranked the top 16 banks by assets, and each tournament round pitted the CEOs against each other based on various financial ratios. The ruling on the final round was somewhat subjective though Wells Fargo CEO John Stumpf* bested Goldman Sachs' Lloyd Blankfein.

*Apologies for the spoiler but it is worth clicking on the Bloomberg link for the final photo of Stumpf.

Shares of Wells Fargo closed up 0.5% to $57.46.


When Wells Fargo purchased $9 billion worth of General Electric's commercial loans, it provided an opportunity for the San Francisco bank to grow its already large footprint in the manufactured-housing lending space, according TheStreet's James Passeri. The bank has hired two General Electric alums to help run the unit.

"Wells Fargo is probably not just buying the portfolio, but they are probably going to make a major push into the mobile home industry," Richard Bove, an equities research analyst with Rafferty Capital Markets, said in an interview.

Shares of General Electric closed up 0.2% to $27.10.

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