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.
Group Hug: Brokerage Leaders BofA, LPL Embrace Fiduciary Standard
Bank of America Merrill Lynch and LPL state support for extending the fiduciary standard to brokers.
2010 Q4 Earnings: BofA Misses Estimates; Merrill Adds Advisors
Wealth-management sales rise; Merrill Lynch's FA headcount increases to nearly 15,500.
QE2’s Main Effect Is Weakening the Dollar; Bank Execs Speak
The Fed's large scale asset purchases will not move the needle of economic growth; the real benefit is a further weakening of the U.S. dollar relative to other currencies.
? Sallie Krawchek, most recently CEO of Global Wealth Management at Citigroup, has joined Bank of America to run Global Wealth and Investment Management and...