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With BofA reps under the recruiting protocol, rivals may pounce
Recruiters at competing firms are likely to reach out to bank brokers at Bank of America Investment Services Inc., according to industry observers.
Base pay for Bank of America’s Moynihan under $1M: Source
Bank of America's new CEO, Brian Moynihan, will make a salary of $950,000 a year, a person familiar with his pay package said Thursday. That amount reportedly gives Moynihan an almost 20 percent raise, but leaves his base pay well short of his predecessor's.
SEC sues BofA for Merrill deal — again
Federal regulators sued Bank of America Corp. on Tuesday, accusing the company of failing to disclose "staggering financial losses" at Merrill Lynch before shareholders approved a combination of the companies.
Moynihan pick goes over big with Merrill brokers
There was a genuine sense of excitement among the ranks at Merrill Lynch & Co. Inc. yesterday upon hearing that Brian T. Moynihan, Bank of America Corp's consumer and small business banking chief, had been appointed president and chief executive officer, ending weeks of speculation and rumors.
RBC lures $450 million duo from U.S. Trust
RBC Wealth Management has recruited a pair of financial advisers from US Trust Wealth Management, where they ran some $450 million in client assets.
Merrill Lynch adviser exodus ends, buoys Bank of America earnings
Bank of America Corp. said Wednesday it lost $5.2 billion during the final three months of 2009 as consumers struggled to make mortgage and credit card payments and the bank repaid its government bailout money. But the Charlotte, N.C.-based bank, which was one of the hardest hit by the credit crisis and recession, said its results were boosted by strong results from its Merrill Lynch investment banking operations.
Video: Sallie Krawcheck sounds off on RIA model
Sallie Krawcheck, president of Bank of America’s Global Wealth and Investment Management division, during an appearance on Squawk…
Bank of America agrees to dish up docs on Merrill Lynch deal
Bank of America, giving up a months-long fight with regulators, is turning over documents revealing legal advice it received on its purchase of Merrill Lynch.
BofA to SEC: We didn’t mislead anyone about Merrill bonuses
Bank of America executives shot back at the Securities and Exchange Commission today and denied that it deceived investors about bonuses that were paid to top executives at Merrill Lynch & Co.—which BofA bought in January—according to a report in Bloomberg.
Cuomo subpoenas BofA board members over Merrill bonuses
The New York Attorney General's office subpoenaed five members of Bank of America Corp.'s board of directors Wednesday as part of an investigation into the bank's acquisition of Merrill Lynch & Co., according to a personal familiar with the investigation.
Judge Rakoff asks SEC to explain Bank of America actions
A judge yesterday ordered federal regulators to explain why they didn't investigate whether executives at Bank of America Corp. misled shareholders about bonuses paid by Merrill Lynch.
Glass-Steagall sequel would be a horror show for banking bigs
What would the banking universe look like under a Glass-Steagall redux? A one-page bill introduced this month by Sen. John McCain, R-Ariz., and Maria Cantwell, D-Wash., would essentially reinstate the Act, forcing banks to spin off their investment banking and insurance operations.
SEC expands probe of BofA, Merrill deal
The Securities and Exchange Commission has expanded its probe of Bank of America to include possible failure by the bank to disclose mounting losses at Merrill Lynch.
SEC ramps up charges against BofA
Federal regulators have expanded their charges against Bank of America Corp. over billions in bonuses paid at Merrill Lynch, accusing the bank of failing to disclose mounting losses at Merrill before a shareholder vote approving the combination of the two firms.
Moynihan pick pleases execs at Merrill Lynch
There was a genuine sense of excitement among the ranks at Merrill Lynch & Co. Inc. last week…
Bank of America ready to name replacement for Ken Lewis?
Bank of America's board is meeting to discuss potential replacements for CEO Ken Lewis who has said he plans to leave by the end of the year.
Bank of America CEO search may extend into 2010
Bank of America is having such a hard time finding a new CEO that some analysts are wondering if Ken Lewis might have to stay past his planned Dec. 31 departure.
Questions surround the status of BofA bank brokers
Bank of America Investment Services Inc., the bank-brokerage unit of Bank of America Corp., is in the process of terminating its registration as a broker-dealer.
AIG, Citigroup and BofA brass have comp slashed by pay czar
The Treasury Department on Thursday ordered seven companies that received billions of dollars in government bailouts to halve total compensation for their top executives. But the big reductions will not apply to pay earned before November.
Bank of America broadens its search for a new CEO
Bank of America's leaders have long been drawn from the crew who transformed a once-modest North Carolina-based lender into a nationwide institution. Even as those empire builders snapped up rivals from San Francisco to Boston, they kept their megabank headquartered in Charlotte, N.C.
