Don’t fear the rate rise: Philadelphia Trust
In addition, the financial sector is set for a boost, he said.
"Financial companies, banks, insurance companies, brokerage firms (and)
money management firms, all will do extremely well in a rising interest
rate environment because their margins will actually expand," Crofton
said.
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He expects sector winners will include big players JPMorgan, Citigroup,
Bank of America andWells Fargo, as well as some of the
"super-regionals," such as PNC and US Bancorp.
"Banks that will lose will be community banks, regional banks
that don't have a diverse product offering or a diverse client base," he
said.
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