BofA Moves to Issue 400M Shares as Stock Weakens
Bank of America said Thursday that it might issue 400 million new shares and disclosed plans to exchange preferred securities for a total of $6 billion of common shares and debt, despite repeated statements by CEO Brian Moynihan that it would not issue new shares.
Q3 Earnings: BofA Tops Estimates as Merrill Boosts Advisor Count
Net inflows of client assets were nearly $2 billion in the third quarter for the wealth-management unit vs. outflows of about $2.5 billion last year.
Buffett Jabs Wall St., Saying It ‘Doesn’t Feel Loved’
Wall Street doesn’t feel loved, Warren Buffett told Charlie Rose in an interview on Sept. 30. Buffett noted that some rhetoric from President Barack Obama led to a lack of support from Wall Street.
Krawcheck Out in BofA Reorg
Bank of America said in early September that wealth-management head Sallie Krawcheck was leaving the company as part of a major reorganization of the bank and its operations.
BofA to Slash 30,000 Jobs, $5 Billion a Year in Costs
BofA's restructuring comes six days after Sallie Krawcheck was let go as head of wealth management, but company says it will continue to hire FAs.
Krawcheck Forced Out in BofA Restructuring
Bank of America CEO Brian Moynihan said Tuesday that he was reorganizing the bank's management and operating units, removing Sallie Krawcheck as head of the wealth management.
BofA Sells Half Its Stake in Chinese Bank for $8.3 Billion
Bank of America said Monday it was selling about 13 billion common shares, or 5%, of China Construction Bank to a group of investors for some $8.3 billion in cash and an after-tax gain of $3.3 billion.
Q2 Earnings: BofA Posts Big Loss; Merrill Adds Advisors
Loss was spurred by mortgage settlement that included Countrywide issues; Merrill Lynch now includes more than 16,240 advisors with average yearly sales of $894,000.
BofA in $8.5 Billion RMBS Deal With PIMCO, Goldman, Others
Bank of America's latest settlement involves 530 trusts that bought residential mortgage-backed securities for $424 billion.
2011 Q1 Earnings: Bank of America EPS Disappoints; Merrill Profits Up 68.6%
Bank of America reported disappointing Q1 2011 earnings, but the GWIM unit saw one of its strongest quarters since the acquisition of Merrill Lynch.