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MSSB/Merrill swap teams in broker war
At a time when Wall Street is talking about tightening its belt, Morgan Stanley Smith Barney LLC and Bank of America Merrill Lynch are still showing a willingness to shell out big bucks for top-producing financial advisers
Buffett says BofA will take ‘much longer’ to clean up
Bank of America Corp. “has a wonderful underlying business" but has "lots of problems,” said Warren Buffett, whose Berkshire Hathaway Inc. invested $5 billion in the troubled company.
BofA, JPMorgan, Wells accused of charging veterans illegal fees
Bank of America Corp., JPMorgan Chase & Co. and Wells Fargo & Co. were among 13 banks and mortgage lenders accused in a so-called whistleblower lawsuit of charging military veterans illegal fees to refinance home loans.
Stressed BofA, Citi may have to rethink dividend plans
Fed's tougher capital tests could throw a spanner into the works for buybacks as well
<b>Opinion:</b> ‘Must hang’ Sallie
Given the recent spate of bad news, it seemed that somebody big had to go at Bank of America. Merrill Lynch president Sallie Krawcheck drew the short straw. The real question is: Did Sallie ever really have a chance of succeeding at BofA?
Gold traders most bullish since July
Twenty-two of 25 people surveyed by Bloomberg expect the metal to rise next week, the highest proportion since mid-July.
BofA’s Moynihan to answer ‘skeptics’ in Berkowitz conference
Bruce Berkowitz's Fairholme Capital Management will hold a 90-minute conference call with BofA CEO Brian Moynihan on Aug. 10 during which investors in the Fairholme Fund, which holds 92.6 million shares of the bank, will get to ask about its sagging share price.
BofA doubles down on cross-selling to customers
Bank of America continues to push its efforts to cross-sell brokerage products to banking customers -- and vice versa. This week, BofA announced plans to boost Merrill Edge, adding almost twice as many financial advisers to the service for mass affluent consumers.
Mystery Inc.: Bank of America online outages a puzzler
The intermittent, ongoing outage of the consumer side of Bank of America’s website seems to have finally been…
Merrill Lynch fined $1M in broker’s fraud
Bank of America Corp.'s Merrill Lynch unit will pay $1 million to resolve claims that supervisory failures enabled a Texas-based representative to operate a Ponzi scheme using a company account.
Advisers should expect a bleak year: Bove
Richard Bove, a banking analyst with Rochedale Securities LLC, is expecting a bleak year for investment banks and brokerages, and suggests that financial advisers can expect less support from their parent firms and will see fewer opportunities to sign lucrative deals with competitors.
Bank of America to slash 30,000 jobs to cut costs
Bank of America's 'New BAC' plan, which saw wealth management head Sallie Krawcheck ousted last week, will also include the elimination of some 30,000 jobs over the next few years in an effort to save about $5 billion in annual costs by the end of 2013.
Brokers await BofA’s next move on wealth management
Bank of America Merrill Lynch brokers might want to pray a little longer and a lot harder after last week's sacking of Sallie Krawcheck, who headed BofA's wealth management division
Merrill advisers rebuffed on bias suit
The justices today turned away an appeal by 17 current and former company financial advisers who sought to press a class action race-discrimination suit against Merrill Lynch.
‘Sallie, Sallie, Sallie!’
The Headhunter wonders why Sallie Krawcheck's departure registered as an earth shattering day in the history of the retail brokerage business.
Moody’s cuts ratings of BofA, Wells
Says banks probably no longer too big too fail; also lowers short-term rating on Citi
BofA said to shift derivatives from Merrill to bank — putting FDIC on the hook
Regulator unhappy with move, sources say; 'enormous temptation to dump the losers on the insured institution'
BofA’s woes making life difficult for Merrill advisers
Warren E. Buffett's $5 billion vote of confidence in Bank of America Corp. last Thursday notwithstanding, Merrill Lynch advisers have been forced to reassure clients over the past few weeks that their parent company is not headed for insolvency.
Bearish hedge fund bets may send U.S. stocks lower: BofA analyst
U.S. stocks are likely to extend declines because hedge funds have leeway to boost bets against the world's largest equity market, according to Bank of America Corp.'s Mary Ann Bartels.
