U.S. bank Wells Fargo named JPMorgan Chase executive Ed Olebe as its new head of cards and merchant services on Tuesday, effective immediately.

Banks will be shutting down on January 20, Inauguration Day, because of the Martin Luther King Jr. Day holiday.

JPMorgan, Wells Fargo, Goldman Sachs and Citi kicked off earnings season on Wednesday with their December-quarter results.

All federal and state courts and non-essential services will be closed on Monday, and the major banks — Bank of America, Capital One, Citibank, PNC, Wells Fargo and Truist — consider MLK Day to be a bank holiday, and will be closed.

Wells Fargo, which joins JPMorgan in kicking off the Q4 earnings season for the Finance sector on Wednesday, January 15 th, is barely in positive territory since election day, while Citigroup, which also reports the same day, has outperformed both of its peers.

Wells Fargo's profit beat expectations in the fourth quarter, powered by a rebound in dealmaking activity and forecast it would earn more from interest payments this year, sending shares up 6%.

In a report released yesterday, Mike Mayo from Wells Fargo maintained a Buy rating on Citigroup (C – Research Report). The company’s shares