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No bull: Krawcheck attempts to put the ‘thunder’ back in Merrill’s brokerage force
Sallie Krawcheck made a bold statement today in her first public remarks since being tapped as president of Bank of America's global wealth and investment management unit—a statement that will apparently be backed up with millions of dollars from BofA over the next several months.
BofA to select emergency CEO this week
Bank of America Corp. plans to select an emergency CEO this week in case Ken Lewis steps down before the end of the year, The Wall Street Journal reported Monday.
The search for Ken Lewis’ successor at BofA officially kicks off
Bank of America Corp. said Friday it created a six-member committee of directors to find a successor for CEO Ken Lewis.
Free at last: Former Merrill brokerage chief McCann settles non-compete issue with BofA
Bob McCann, the former head of the brokerage operation at Merrill Lynch & Co., has reportedly resolved a suit he filed against Bank of America that will allow him to join another firm in the brokerage industry.
Bank of America CEO Lewis leaving by year’s end
Bank of America Corp. says its embattled CEO Ken Lewis will retire from the bank by the end of the year.
Citizens Financial expands wealth management biz, grabs two BofA execs
Two New England-based executives from Bank of America Corp. have joined Citizens Financial Group Inc. to lead key units of the Providence, R.I., bank's expanding wealth managing business.
Ameriprise to acquire most of BofA’s Columbia for $1B
Ameriprise will spend $1 billion to acquire the majority of Columbia Management, the asset management business of Bank of America, in an all cash deal, the companies have revealed.
Bank of America will give Congress more documents on Merrill deal
Bank of America Corp. will hand over more documents to a congressional committee probing its hastily arranged acquisition of troubled brokerage house Merrill Lynch.
BofA to pay $425M to exit government arrangement
Bank of America has reached an agreement to pay the government $425 million to end a loss-sharing arrangement involving risky assets from the company's takeover of Merrill Lynch.
Bank of America riding up against Congressional deadline on Merrill deal
Bank of America Corp. was facing a deadline Monday to turn over additional information about its acquisition of Merrill Lynch, this time to a Congressional committee.
FBI and Justice Department investigating BofA’s acquisition of Merrill
Bank of America Corp.'s acquisition of Merrill Lynch & Co. Inc. is under investigation by both the Department of Justice and the Federal Bureau of Investigation, according to a report report this morning in the Charlotte Observer.
McCann will ask judge to squash BofA non-compete clause
Alleging he was treated with “vengeful conduct intended to both punish and humiliate” him, former Merrill Lynch & Co. Inc. brokerage chief Robert McCann will today ask a New York state judge to require Bank of America Corp. to allow him seek employment elsewhere, according to a Bloomberg report.
The new kings of Wall Street
On Sept. 16, 1920, at precisely one minute after noon, Wall Street was literally shaken to its foundations when a massive bomb exploded outside J.P. Morgan's headquarters, killing dozens and injuring hundreds more.
Chief hurdle in fund mergers: Financing
Despite financial, legal and regulatory forces that are keeping a lid on deals in the asset management business, some large mergers and acquisitions are about to take place.
Hard times lead to hardship withdrawals from 401(k) plans
Tapping 401(k) retirement funds to meet expenses is a last resort for many investors, but the relentless economic downturn took its toll this year, as hardship withdrawals saw double-digit increases, according to record keepers.
BofA’s thumbprint rule angers man with no arms
A Florida man born without arms says a Tampa bank would not let him cash a check because he couldn't provide a thumbprint.
BofA analyst downgrades Morgan Stanley stock
Bank of America-Merrill Lynch today downgraded shares of Morgan Stanley to neutral from buy and cut its price target on the New York-based investment bank's shares by a dollar to $32, according to MarketWatch.
Report: McCann and BofA attempt to settle suit, setting up ex-Merrill exec’s move to UBS
Robert McCann, the former head of the brokerage unit at Merrill Lynch & Co., is inching closer to joining UBS AG as the head of the firm's wealth management business in the Americas, according to Bloomberg.
Krawcheck, Paulson & Co. buy BofA shares
John Paulson, who runs Paulson & Co., disclosed in a filing that he spent about $2.67 billion to purchase 168 million shares in Bank of America during the second quarter.
Bank of America hit with $33M penalty
The Securities and Exchange Commission last week charged Bank of America Corp. with misleading investors about billions of dollars in bonuses that were paid to Merrill Lynch & Co. Inc. executives just before BofA acquired the New York brokerage house in January.
