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Feb 11, 2026
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LONG
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Lisa Abramowicz: "It sounds a lot like what Brian Moynihan [Bank of America CEO] said. The size of the employees may not change but the ability to capture a larger share of the market does increase." This validates a sector-wide thesis for "Large Financials." Both Schwab and Bank of America are signaling that headcount will remain flat while revenue/assets scale up via AI. This creates a "Jaws" effect (revenue growing faster than expenses) for the largest players who can afford the AI infrastructure. LONG. Betting on large-cap financials utilizing AI for operating leverage. Regulatory caps on AI in financial advice or data privacy failures. |
Bloomberg Markets
AI Will Help Wealth Managers, Not Hurt Them, ...
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