In response to vague threats by Wikileaks founder Julian Assange, Bank of America is working scrupulously to try to figure out how the heck anyone could have gotten their hands on the company’s secret documents. BofA’s chief risk officer, Bruce Thompson, and 15 to 20 employees of the bank are checking through records to Read More
Bank of America appears to be renegging on its vows to engage in “day-to-day, hand-to-hand combat” with its clients over so-called putbacks of allegedly faulty mortgage securities. The Wall Street Journal reports that rather than engage in legal jiu jitsu with heavy hitters like BlackRock, Pimco and Freddie Mac, Bank of America is Read More
Wells Fargo and Bank of America’s CEOs are so eager to free themselves from their short regulatory leash and raise some gosh darn dividends already. Wells CEO John Stumpf made the sentiment abundantly clear. From The Wall Street Journal‘s report on today’s Goldman Sachs U.S. Financial Services Conference in New York:
“It’s high time Read More
It was only two months ago that Lloyd Blankfein, in one of the all time great Wall Street communication goofs, tried to argue that his firm Goldman Sachs was doing “God’s work.” He didn’t learn his lesson. At the Financial Crisis Inquiry Commission’s magnificently testy first public hearing today, Mr. Blankfein blamed the Read More
After months of being rebuffed by big-name outsiders, Bank of America was forced to settle on an internal candidate yesterday, announcing that its consumer banking chief, Brian Moynihan, will succeed outgoing C.E.O. Ken Lewis. Mr. Moynihan might have Attorney General Andrew Cuomo—and his endless probe into the bank’s merger with Merrill Lynch—to thank Read More
Whoever is lucky enough to get the top job running the beleaguered Bank of America might have Andrew Cuomo to thank.
The big bank announced today that it’s retained headhunter Russell Reynolds Associates to help the company find a new C.E.O., according to the Wall Street Journal.
It comes one day after Bank of Read More
