Bank of america investment bankingBank of America Investment Banking, 3000 jobs, and a strategic investment of late Wednesday, said the review after the poor performance of the Bank Group, recent works.
Gene Taylor, global corporate and Bank of America Investment Banking, retiring at the end of this year and Brian Moynihan, wealth management and investment of the business organization the world".
He said that most of the jobs Bank of America/BAC + 1.00% unit " Bank of America Investment Banking, him. These reductions are less than 2% of the staff of the company. Commercial lending, Treasury services and financial markets, to consulting, as well as support infrastructure will be affected, said the Bank.
Bank of America Investment Banking in accordance with the "less than 31% in the last week of trading losses and purchase a variety of support units, which almost lost in the third quarter, the return on the investment bank loans." Find the whole story.
After the strike CEO Ken Lewis said that the Bank could be back in the day. Add " Bank of America Investment Banking, the fun is over."
Several other banks have also used this summer/mortgage markets and the allocation of significant acquisitions, causing almost stops. under the influence of credit of Merrill Lynch, first quarter loss six years after writing down the impact of subprime loans and debentures, announced on Wednesday about 8 billion. You can see the whole story.
Bank of America is usually a large retailers and commercial creditors. But the expansion of Bank of America Investment Banking in recent years. Lewis said Wednesday his company was ' t piston with capital markets and Bank of America Investment Banking.
Bank of America still "commercial equipment company and institution presentations of financial products and services required in the work of the Organization efficiently," he said in a statement.
Bank Bank of America offices in Colombia's Kate in asset management. Head of global wealth and investment management company, said Moynihan Chairman I added a short time. He made his name known.
Bank of America Investment Banking shares slipped 30 cents Wednesday to $47.48 inventory is approximately 11% of the time of the year.