Cuomo: Merrill Moved Up Bonus Pay Date
February 12, 2009 by Joseph McCafferty
New York Attorney General Andrew Cuomo asserts that Merrill Lynch moved up its bonus payments to secure them before reporting Q4 losses upwards of $15 billion.
February 12, 2009 by Joseph McCafferty
New York Attorney General Andrew Cuomo asserts that Merrill Lynch moved up its bonus payments to secure them before reporting Q4 losses upwards of $15 billion.
Pressure on BofA’s Lewis Mounts
February 6, 2009 by Joseph McCafferty
Bank of America shares sank to their lowest level since 1984 on swelling fears about losses tied to a bad economy and its acquisition of Merrill Lynch, adding pressure to CEO Kenneth Lewis.
February 6, 2009 by Joseph McCafferty
Bank of America shares sank to their lowest level since 1984 on swelling fears about losses tied to a bad economy and its acquisition of Merrill Lynch, adding pressure to CEO Kenneth Lewis.
Bank of America to Defer Bonuses
February 2, 2009 by Joseph McCafferty
With executive compensation and annual bonuses the talk of the corporate town in recent months, Bank of America has made its own statement on the matter, with plans to defer its larger bonuses over a three-year period.
February 2, 2009 by Joseph McCafferty
With executive compensation and annual bonuses the talk of the corporate town in recent months, Bank of America has made its own statement on the matter, with plans to defer its larger bonuses over a three-year period.
Filling the Void on Wall Street
February 1, 2009 by Karen M. Kroll
The void in the investment banking world created by the demise of fallen titans like Lehman Bros., Merrill Lynch, and Bear Stearns may provide an opportunity for private-equity firms to enter the market. However, opinions diverge on just how likely and how effective, such moves might be.
February 1, 2009 by Karen M. Kroll
The void in the investment banking world created by the demise of fallen titans like Lehman Bros., Merrill Lynch, and Bear Stearns may provide an opportunity for private-equity firms to enter the market. However, opinions diverge on just how likely and how effective, such moves might be.
Former Merrill CEO Thain Subpoenaed
January 28, 2009 by Joseph McCafferty
Days following his dismissal as Bank of America’s head of wealth management, former Merrill Lynch CEO John Thain received a subpoena from the New York attorney general’s office yesterday in an investigation towards the executive’s bonus payment decisions in late 2008.
January 28, 2009 by Joseph McCafferty
Days following his dismissal as Bank of America’s head of wealth management, former Merrill Lynch CEO John Thain received a subpoena from the New York attorney general’s office yesterday in an investigation towards the executive’s bonus payment decisions in late 2008.
BofA’s Lewis Forces Out Merrill CEO
January 23, 2009 by Joseph McCafferty
The wedding’s over, but the marriage is on the rocks as Bank of America CEO and chairman Kenneth Lewis yesterday forced out former Merrill Lynch CEO John Thain in response to high losses sustained by Merrill in the months leading up to the merger between the two.
January 23, 2009 by Joseph McCafferty
The wedding’s over, but the marriage is on the rocks as Bank of America CEO and chairman Kenneth Lewis yesterday forced out former Merrill Lynch CEO John Thain in response to high losses sustained by Merrill in the months leading up to the merger between the two.
BofA’s Lewis Urges No Bonuses
January 7, 2009 by Joseph McCafferty
Chief executive Kenneth Lewis of Bank of America yesterday recommended that his bank not issue annual bonuses to senior executives in light of the financial downturn.
January 7, 2009 by Joseph McCafferty
Chief executive Kenneth Lewis of Bank of America yesterday recommended that his bank not issue annual bonuses to senior executives in light of the financial downturn.
B of A Cuts Extend into Top Management
December 16, 2008 by Joseph McCafferty
Bank of America, which recently announced its plans to cut approximately 35,000 jobs after its planned merger with Merrill Lynch, dismissed several high ranking officers and counselors last week in an effort to reduce personnel redundancy and endure the difficult economic climate.
December 16, 2008 by Joseph McCafferty
Bank of America, which recently announced its plans to cut approximately 35,000 jobs after its planned merger with Merrill Lynch, dismissed several high ranking officers and counselors last week in an effort to reduce personnel redundancy and endure the difficult economic climate.
Thain Seeks Bonus as Merger is Approved
December 8, 2008 by Joseph McCafferty
While banks worldwide buckle or even crumble under the pressure of a global recession, John Thain is still shooting for the stars—as far as his paycheck goes, at least.
December 8, 2008 by Joseph McCafferty
While banks worldwide buckle or even crumble under the pressure of a global recession, John Thain is still shooting for the stars—as far as his paycheck goes, at least.
Blackstone Optimistic for PE Firms
November 12, 2008 by Joseph McCafferty
Blackstone Group CEO Stephen Schwarzman says that he expects PE firms to outperform most other financial services firms.
November 12, 2008 by Joseph McCafferty
Blackstone Group CEO Stephen Schwarzman says that he expects PE firms to outperform most other financial services firms.
Icahn Invests in Faltering Film Studio
October 22, 2008 by Joseph McCafferty
Billionaire investor Carl Icahn doubled his investment in Lions Gate Entertainment, the studio behind such films as “Crash” and “Saw.” Icahn believes the shares are undervalued and has already held discussion with the company’s senior management.
October 22, 2008 by Joseph McCafferty
Billionaire investor Carl Icahn doubled his investment in Lions Gate Entertainment, the studio behind such films as “Crash” and “Saw.” Icahn believes the shares are undervalued and has already held discussion with the company’s senior management.
Willumstad Declines Severance
September 23, 2008 by Joseph McCafferty
Former AIG CEO Robert Willumstad’s decision to reject a $22 million severance pay package is not indicative of a trend of failing large companies.
September 23, 2008 by Joseph McCafferty
Former AIG CEO Robert Willumstad’s decision to reject a $22 million severance pay package is not indicative of a trend of failing large companies.
And Then There Were None
September 22, 2008 by Joseph McCafferty
Goldman Sachs and Morgan Stanley’s decisions to seek shelter from the Federal Reserve has resulted in eliminating Wall Street’s investment banking model of the past two decades.
September 22, 2008 by Joseph McCafferty
Goldman Sachs and Morgan Stanley’s decisions to seek shelter from the Federal Reserve has resulted in eliminating Wall Street’s investment banking model of the past two decades.
Minow Points Finger at Boards
September 19, 2008 by Joseph McCafferty
Nell Minow says that the people most responsible for the meltdowns of financial institutions are the board of directors. Their failure to act as fiduciaries for shareholders in managing risk is why many major financial institutions have ended in disaster.
September 19, 2008 by Joseph McCafferty
Nell Minow says that the people most responsible for the meltdowns of financial institutions are the board of directors. Their failure to act as fiduciaries for shareholders in managing risk is why many major financial institutions have ended in disaster.
Merrill Lynch Investors File Suit
September 16, 2008 by Joseph McCafferty
Merrill Lynch shareholders filed an investor lawsuit against chief executive John Thain and the company’s board of directors yesterday, alleging that the brokerage had accepted Bank of America’s buyout offer to the detriment of its shareholders.
September 16, 2008 by Joseph McCafferty
Merrill Lynch shareholders filed an investor lawsuit against chief executive John Thain and the company’s board of directors yesterday, alleging that the brokerage had accepted Bank of America’s buyout offer to the detriment of its shareholders.
BofA Agrees to Buy Merrill
September 15, 2008 by Joseph McCafferty
Bank of America and Merrill Lynch reached a buyout agreement late yesterday, with BofA absorbing the financial services firm amid a tumultuous banking climate.
September 15, 2008 by Joseph McCafferty
Bank of America and Merrill Lynch reached a buyout agreement late yesterday, with BofA absorbing the financial services firm amid a tumultuous banking climate.
Fed Makes Moves to Stabilize Market
September 15, 2008 by Joseph McCafferty
In an attempt to balance the market against the potential disaster of the Lehman Brothers bankruptcy, the Federal Reserve will offer a new type of loan to financial firms.
September 15, 2008 by Joseph McCafferty
In an attempt to balance the market against the potential disaster of the Lehman Brothers bankruptcy, the Federal Reserve will offer a new type of loan to financial firms.
Allison, Moffett to Lead Fannie, Freddie
September 8, 2008 by Joseph McCafferty
Herbert M. Allison Jr. has been named CEO of Fannie Mae. He brings nearly three decades of experience on Wall Street and Washington connections with him.
September 8, 2008 by Joseph McCafferty
Herbert M. Allison Jr. has been named CEO of Fannie Mae. He brings nearly three decades of experience on Wall Street and Washington connections with him.
The 2008 List of Influentials on the Directorship 100
September 1, 2008 by Directorship Editors
The Most Influential Players in Corporate Governance (listed in alphabetical order)
September 1, 2008 by Directorship Editors
The Most Influential Players in Corporate Governance (listed in alphabetical order)
Cuomo Widens Investigation
August 21, 2008 by Joseph McCafferty
New York Attorney General Andrew Cuomo is intensifying his auction-rate securities investigation, focusing on Bank of America, Goldman Sachs, and Deutsche Bank.
August 21, 2008 by Joseph McCafferty
New York Attorney General Andrew Cuomo is intensifying his auction-rate securities investigation, focusing on Bank of America, Goldman Sachs, and Deutsche Bank.