BofA's Krawcheck denies rumors she's being forced out

Sallie Krawcheck, president of Bank of America Corp.'s global wealth division, told the company's brokers that she has no plans to leave and that there have been “zero discussions” about changing pay for Merrill Lynch financial advisers.
MAY 26, 2010
Sallie Krawcheck, president of Bank of America Corp.'s global wealth division, told the company's brokers that she has no plans to leave and that there have been “zero discussions” about changing pay for Merrill Lynch financial advisers. “Our businesses and I have the full support of Brian and the rest of my partners on his senior leadership team,” Krawcheck said in an e-mail dated today, referring to vhief executive Brian Moynihan. Changing compensation for Merrill Lynch advisers “is simply not on the table,” she wrote. “While I'm swatting down rumors, let's also put the one about folding U.S. Trust into ML to rest once and for all.” The memo from Krawcheck came a day after CNBC reported some executives at the Charlotte, North Carolina-based lender were moving to oust her. Bank of America Merrill Lynch spokeswoman Selena Morris said yesterday that the report wasn't true. She said she couldn't comment on today's memo.

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