The news that top Wall Street banks have formed a partnership to develop an alternative to Bloomberg's chat service is not novel. The financial information juggernaut, which has its eyes on electronic trading as well, has long inspired fear in top banks, even before it became the leading vendor.
Morgan Stanley's ( NYSE:MS ) wealth and investment management business has a new Head of Technology.
Investment firm clients want their information available on iPhones and iPads -- and this means more work for CIOs and their technology teams.
Bank of America has (controversially) settled with the SEC and with shareholders over charges related to its acquisition of Merrill Lynch.
For all its recent woes, Bank of America remains a formidable brand. As does Merrill Lynch.
The financial crisis of 2008 and its aftermath were anything but kind to John Thain, who at one point seemed to have a golden career, one that took him from Goldman Sachs to the CEO's office at NYSE Euronext to the top job at Merrill Lynch, where he ultimately unraveled.
About 80 percent of the revenue at Merrill Lynch can be attributed advisors that began their careers with the company.
Thanks to private litigation wending through the system, lots of material related to the controversial Bank of America deal for Merrill Lynch, which closed on January 1, 2009, has been recently released.
What did management at Bank of America know about the extent of losses at Merrill Lynch? And when did they know it?
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