NEW YORK—JPMorgan Chase and Bank of America, the two largest U.S. banks by assets, expressed caution about job cuts in contrast with Goldman Sachs, where hundreds of layoffs could start as early this month. “You need to [be] very careful when you have a bit of a downturn to start cutting bankers here and there…

FRANKFURT—As head of Dutch insurer Aegon, Alexander Wynaendts led a complex European financial institution with staff around the world and a large U.S. presence during a turbulent decade, an experience that should serve him well as the next chair of Germany’s Deutsche Bank. On Friday, a committee of Deutsche Bank’s supervisory board nominated Wynaendts to…