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A top Wells Fargo executive said there's a "feeding frenzy" for some of the Swiss lender's top producers, at the same time the wirehouse is courting more than 200 of the elite recruits.
By Hugh SonNovember 18 -
The wirehouse is developing an automated investment prototype for Merrill Edge, its discount brokerage for accounts under $250,000.
By Hugh SonNovember 6 -
Allowing Brian Moynihan to serve as both CEO and chairman of Bank of America would "concentrate too much responsibility in a single person," proxy advisor Glass Lewis says.
By Hugh SonSeptember 3 -
The firm sent a memo to advisors telling them to withdraw about $80 million from a fund because of illiquid investments and elevated volatility, according to two people familiar with the matter.
August 6 -
James Simons, who founded Renaissance Technologies, hired Ashvin Chhabra to run his family office, leading to a shift in executive roles at Bank of America Merrill Lynch.
July 21 -
The SEC and other regulators are seeking information about the bank's use of proprietary products in its wealth management business, the company disclosed in a regulatory filing.
By Hugh SonMay 7 -
A new generation of Wall Street bankers is about to get a raise, as firms open wallets to head off defections to investment funds and Silicon Valley.
By Hugh SonAugust 21 -
Bank of America Corp. will pay $16.65 billion to end federal and state probes into mortgage bond sales, the harshest penalty yet related to loans that fueled the 2008 financial crisis, the Justice Department said.
August 21 -
JPMorgan Chase CEO Jamie Dimon plans to be involved running the bank at a less intense pace as he fights throat cancer and said that the company is prepared for all scenarios.
By Hugh SonJuly 15 -
The worlds biggest bond dealers, including JPMorgan Chase & Co. and Morgan Stanley, failed to properly report trades to the industrys price-tracking system more than 11,000 times. JPMorgans penalty: About three minutes of its annual profit.
By Hugh SonMay 22