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Merrill Lynch
Latest Headlines
Latest Headlines
Thundering Heard ramps up recruiting war
The broker recruiting wars continue to rage, becoming something of a way of life in the industry.
While many independents and other wirehouses are often looking to add teams from Merrill Lynch, we just might be looking at a watershed year in terms of broker defections from the vaunted Thunderi
Blankfein on Volcker Rule, OTC derivatives
Goldman Sachs CEO Lloyd Blankfein, fresh off only the company's second quarterly loss as a public company, told the audience at a recent Bank of America Merrill Lynch conference that a weaker economy and tougher regulation did not mark a secular shift in financial markets and that an upturn was br
Bank of America: Small customers don't contribute to bottom line
There was a day when Bank of America prided itself on being a massive consumer bank. It truly was the bank of America.
But CEO Brian Moynihan was pretty frank at a recent conference about something we all knew: Many of the bank's smallest-account customers no longer contribute to the bottom li
Corzine steps down, lawyers up
Jon Corzine has stepped down as CEO of MF Global, a firm he leaves mired in bankruptcy court and a victim of the European debt crisis as well as a surfeit of recklessness.
Regulators and prosecutors are circling, and we can only hope they get to the bottom of the mess soon. We suggested recent
Official admits crime at MF Global
Are charges, either civil or criminal, now likely at MF Global? You would have to think that the chances just rose significantly as an official of the company has admitted to federal regulators, according to media reports, that executives at the company used customer funds for corporate purposes.
Banks already rethinking debit card fees
If Bank of America thought that imposing a hefty debit card fee on retail customers might spark a rush by other banks to do the same, it has been proven wrong. While there were some regional banks that piled onto the bandwagon--such as Regions and SunTrust-we're now seeing other national banks mov
Judge already skeptical of SEC-Citi settlement
One of the big questions in the wake of the SEC's announcement that it has settled CDO-related fraud charges with Citi recently was whether the $285 million settlement would be approved by a federal judge.
Brows arched when word came down that the case had been assigned to Judge Jed Rakoff. Re
Suit against Bank of America over Merrill Lynch advances
When people think of former Bank of America CEO Ken Lewis, they will likely first think about his disastrous Countrywide purchase back in 2008, a deal he promoted as one heck of a bargain.
The deal sealed his fate as the man who lead the once mighty bank to the edge of a scary precipice. But w
Vulture sweepstakes: Merrill Lynch vs. Lehman Brothers
The financial crisis of the late 2000s gave rise to a vulture sweepstakes, as the big banks competed to pick up the best of the fallen banks left for dead. So who fared the best? Was it JPMorgan Chase with its deal for Bear Stearns and Washington Mutual? Wells Fargo for its acquisition of Wachovia
Bank of America confirms 30,000 job cuts
At the Barclays financial services conference, many executives of presenting banks are probably wondering why they bothered to show up at all. The only noise that people really wanted to hear was from Bank of America CEO Brian Moynihan, who certainly didn't intend to upstage all others. He would r
