It was admittedly a shotgun marriage (certainly as far as Merrill was concerned), and Bank of America did attempt to back out of the deal before it closed in 2008, but speculation is mounting (again) that BofA might end up spinning Merrill off or selling all, or part, of the business outright.
Goldman has set aside some $8.4bn for compensation expenses in the first six months of the year, down 99% on the same period in 2010.
Another 1,500 financial markets professionals will lose their jobs, as two firms said Tuesday that they will be shedding additional staff.
Bank of America just posted a loss of $8.83bn, the largest quarterly loss in its history after $21bn in pre-tax mortgage-related charges.
Goldman Sachs posted $1.05bn in second-quarter profits Tuesday, well below expectations.
Here's the latest from our Highly Paid Professional.
by Braden Goyette, ProPublica
State Street Corporation has now provided an update of its multi-year business operations and IT transformation program. First announced in November 2010, the program is designed to enhance State Street's growth by substantially increasing its focus on technology research and development and service excellence to drive innovation for clients and to streamline its operating model.
New York - Deutsche Bank has announced that Senator George J. Mitchell is rejoining the Bank's Americas Advisory Board, effective August 1. Senator Mitchell originally joined the Advisory Board on September 5, 2005 and served until January 22, 2009, when President Barack Obama appointed him Special Envoy for Middle East Peace, a post he held until May 14, 2011.
Poppy Trowbridge reports on the attack on News Corp. Chief Executive Officer Rupert Murdoch during his testimony today in London to the U.K. parliament's culture, media and sport select committee over allegations of phone hacking.
Terribly tragic, but recent deaths of bank employees are not part of an obvious trend.
The most powerful woman in hedge funds is off to a red-hot start at the helm of her own firm.
Standard Chartered Plc, the U.K. bank that’s cutting $400 million of costs, will consider starting a desk in Dubai for Japanese corporate clients that wish to expand business in the Middle East.