Tag: boa

Finger Interests, a large shareholder in Bank of America Merrill Lynch, has pressed the case for an external candidate to replace Ken Lewis, and has even suggested 18 potential ... Bank of America Merrill Lynch CEO Ken Lewis will retire by year-end. An August reorganisation flagged Sallie Krawcheck, Brian Moynihan and Tom Montag as possible successors, ... Bank of America is told that it cannot use attorney-client privilege to withhold information about why BoA shareholders didn't receive material disclosures regarding Merrill's ... Decision-makers at Bank of America were influenced by regulators to let the merger proceed with the resultant impact on BoA seemingly not a key consideration. Proxy advisory agencies and a large Bank of America investor advise shareholders to hold the chairman and CEO responsible for going ahead with the Merrill merger. News that AIG will pay large bonuses causes discontent among US taxpayers. Meanwhile, a court is soon to decide whether Bank of America must release names of bonus recipients. A meeting convened by US regulators highlights the issue of bonuses paid at US banks and the difficulty in striking a balance with respect to compensation. Soofian Zuberi becomes responsible for all sales activities across both equities and fixed income, leaving Jason Cox as the sole head of equity capital markets. In Asia, Sheldon Trainor sets out on his own (though continues as an adviser), Mark Matthews leaves the research team, and the firm sets up a new corporate finance advisory group. Shareholders of both companies support the merger; a large reduction in staff is likely to be the next announcement. The US bank exercises an option to increase its ownership in China Construction Bank to 19.1%, potentially with a view to booking some profit on its earlier investment. Merrill Lynch in Asia is complementary to Bank of America's existing franchise, suggesting bankers in Asia could be in a safer position than counterparts elsewhere. Named Asia sales executive and regional head for GTS. New hires in Singapore and Hong Kong. Wall, Patel and Schmidt benefit from an expansion in Asian DCM capabilities. After six years with Deutsche, the veteran banker to head FI sales across Asia. BoA appoints a new pan regional treasury sales manager. Joins from Nikko Citigroup to take a senior currency role. Tony Li joins Bank of America.