National City Wants to Beef Up Brokerage Biz
The Cleveland bank would add to its fee-based income by pursuing other revenue streams.
David Daberko, CEO of National City (NCC), said in a speech Friday that the company would like to expand its investment-banking and brokerage businesses.
Although no specific details have been released, the Cleveland-based company's plan looks like a smart move, especially in light of its November earnings warning. In that announcement, Daberko said National City was having a tougher time generating income from loans as interest rates have edged higher.
Laura Pavlenko Lutton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.