In October 2008, with the financial system teetering, the U.S. Treasury convened a meeting with the leaders of America’s biggest banks. The agenda: to convince the executives to accept billions of dollars in bailout funds, whether the bank bosses believed their institutions needed it, or not. The story has been told before, now it’s been Read More
This afternoon, when Andrew Cuomo announced he filed suit against Bank of America and its former CEO, Ken Lewis, an attorney for Mr. Lewis quickly shot back.
“The decision by Mr. Cuomo to sue Bank of America, Mr. Lewis and other executives in connection with BofA’s acquisition of Merrill Lynch is a badly misguided decision 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
Even after it paid back its TARP loans and freed itself from the strictures of the Pay Czar–a move that was supposed to make it more amenable to executives–Bank of America still can’t find someone willing to take its C.E.O. job.
Its top candidate, Bank of New York Mellon chief Robert Kelly, dropped Read More
Bank of America is paying back that $45 billion debt to the government, and the accepted angle on this news is that the embattled bank–now free of the government’s heavy hand–can more easily find itself a new, big-name C.E.O. (They’ll even let him live in New York!)
But what about the bank’s current Read More
On Friday, just after Bank of America announced a billion-dollar loss in the third quarter, a deed in city records showed that the massive firm had sold off its corporate apartment in the Time Warner Center for $7.2 million. On the bright side, it cost $6.35 million to buy three years ago.
Especially on 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
