A number of high-profile brokers have left Bank of America Corp's (BAC.N) Merrill Lynch wealth management unit in recent weeks, and top executives at the company have grown concerned enough to ask business head John Thiel to explain the departures, three sources familiar with the matter told Reuters.
Tags: Bank of America
U.S. Fed slashes dividend plans of large Wall Street banks
Three major U.S. Wall Street banks had to scale back planned investor payouts after an annual check-up by the Federal Reserve, and two foreign banks failed the test altogether, a sign the Fed is keeping a tight lid on Wall Street.
What would the Dow look like if it included Apple?
It may be by far the most valuable American company but Apple Inc still can’t get into at least one exclusive club – the 30-member Dow Jones Industrial Average.
N.Y. Post says Twitter feed was hacked after erratic Tweets
The New York Post said some of its Twitter accounts were hacked on Friday, in the wake of a series of inaccurate posts on the social network relating to the Federal Reserve, Bank of America and U.S. military engagement with China.
Bank of America hires U.S. officials for financial crime team
Bank of America has hired two U.S. government officials to join its financial crimes team, according to three people familiar with the matter, as banks are under increasing pressure to police their transactions for suspicious activity.
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U.S. TV startup Roku Inc is working on plans to confidentially file for an initial public offering, the Wall Street Journal reported, citing people familiar with the matter.
AstraZeneca's cancer drug pipeline, already on a roll following promising clinical trial results, could get a further boost next week from a European green light for an experimental medicine against ovarian cancer.
As traditional Wall Street moneymakers like stock and bond trading suffer, banks are growing increasingly willing to invest in less glamorous operations: their credit card businesses.
Outflows from Pimco may be far from over as many investors have yet to decide whether to stick with the Newport Beach, California-based asset manager.
Bank of America Corp (BAC.N), the second-largest U.S. bank by total assets, could see its shares climb 50 percent over the next three years, Barron's financial newspaper said on Sunday.
Swiss private bank Julius Baer is interested in acquiring Coutts International, a unit of Royal Bank of Scotland, but will not get into a bidding war for the venerable British bank's overseas arm, a Swiss paper reported on Sunday.
As banks shed off their private equity units to comply with the Volcker Rule, the executives of these newly-independent firms will find themselves doing more travel in their search for new investors, The Wall Street Journal reported.
The Office of the New York Attorney General will continue with the lawsuit without claim to damages it lodged against Bank of America over its 2009 purchase of Merrill Lynch, Bloomberg reported.
South Korea-based investment fund Korea Investment Corp (KIC) is considering selling a $1-billion stake in Bank of America after the latter's value halved since 2008, according to a report by Korean media.
