Barclays
Back in 2008, before the financial crisis, Barclays' investment banking division advanced rapidly. As a result, it bought some of the assets of Lehman Brothers and expanded its financial presence in Asia. However, due to tighter regulation it shut its businesses in South Korea, Brazil, Africa, where it operated for almost half a century, and the Philippines.
BofA
During the period of financial crisis, this financial institution bought Countrywide Financial and Merrill Lynch. Both acquisitions were accompanied by difficulties, including legal fines and significant expenses. Following the crisis, BofA sold some of the divisions, including its wealth management business, Balboa insurance business and First Republic Bank.
Citi
Once being the world's largest lender, CIti sold out more assets than any other US bank after the financial crisis. The bank plans to cut its banking operations in more than 20 countries and to sell its consumer lending unit.
Credit Suisse
During the global financial crisis of 2008, Credit Suisse stopped its low-yield operations in order to cut the volume of its assets and expenses. After being charged with assisting its customers in evading their tax obligations, the bank stopped providing its private banking services. The financial institution cut its investment operations and redirected its resources to the wealth management unit.
Deutsche Bank
The bank resisted the first wave of the crisis, but the investment banking expansion had a negative impact on it. In 2015, it announced 350,000 job cuts and its exit from 10 markets. Deutsche Bank also streamlined its German business and said it was keen to separate itself from Postbank.
HSBC
The bank has cut its spending and has streamlined its business structure in recent years. It sold some of its businesses in Panama, Peru and Costa Rica, and significantly reduced its Brazil division. HSBC was also fined nearly $2 billion for turning a blind eye to money laundering.
JPMorgan
JPMorgan has expanded its operations at a faster pace than before the financial crisis. However, it shed some of its riskiest assets in all of its divisions. Meanwhile, the bank hired 20,000 new employees for its internal audit department.
Following his election victory, Donald Trump, a billionaire himself, once again decided to include prominent magnates in his administration, as he did during his first presidential term. As a result, Trump's current cabinet features seven billionaires, making it one of the wealthiest in US history. Let's find out who these billionaires are and the roles they have been assigned.
Not long ago, the United States held a presidential election, where Donald Trump emerged victorious. Today, he is recognized as the wealthiest American leader in the country's history. Let's take a closer look at other former US presidents who also achieved significant financial success.
