FierceFinance is the financial services daily monitor, with news covering the banking industry, asset management, capital markets and SEC regulations. Join
45,000+ bankers and fund managers who get FierceFinance via email for a quick daily briefing from an insider perspective. Sign up today!
Ken Lewis, CEO of Bank of America, really bet his career on Countrywide. We've made that point repeatedly. For all the savvy deals he's pulled off--MBNA and... Read more...
In the furor over Lehman Brothers recently, many have suggested that CEO Dick Fuld's job is on the line. But you really could say the same for other banks out there--big and small. A commentary on... Read more...
In many ways, Bank of America has been a leader in affinity deals. After all, it bought MBNA, the credit card giant that many consider a pioneer. The latest Bank of America foray is a NASCAR... Read more...
The merger of Bank of America and MBNA originally looked like a daunting case of disparate cultures being mashed together. One was firmly in the suit-and-tie, cult-of-the-customer camp, while the... Read more...
The big bank beat expectations by a penny, thanks in part to its MBNA acquisition and solid growth across the board. The bank also experienced some deterioration in credit quality, which is a big... Read more...
According to U.S Banker magazine, more than 19,000 jobs were cut in 2006. Much of this was deal-driven. The Bank of America-MBNA deal itself cut 6,000 positions. You have to think that... Read more...
Electronic Data Systems has apparently won a hefty $700 million contract from Bank of America to integrate the technology infrastructure of the company now that it has acquired MBNA. This is not a... Read more...
We all knew some kind of deal was coming; we just didn't know who. Wachovia, already the fourth-largest U.S. bank, gained a crucial foothold on the West Coast by agreeing to buy Golden West Bank,... Read more...