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’Banker of the year goes bye bye?
As rumours about the Bank of America CEO’s potential resignation swirl, Ken Lewis-bashers have taken to the internet.
That’s www.BACPROXYVOTE.com — a web site started by BofA investor Jerry Finger.
BofA chief sees profitable year
Ken Lewis, chief executive of Bank of America, said on Thursday that the bank was profitable for the first two months of 2009 and expected to make money for the full year. Lewis joins Jamie Dimon, chief executive of JPMorgan Chase,
BofA chief admits Merrill aid ‘mistake’
Bank of America’s request for $20bn of US federal funds to prop up its acquisition of Merrill Lynch was a “tactical mistake” that made the bank look as weak as Citigroup, Ken Lewis, BofA’s chief executive told the FT on Monday.
BofA chief to be grilled on bonuses
Ken Lewis, Bank of America chief executive, will testify on Thursday before New York state prosecutors, who will question him on what he knew about $3.6bn in bonuses paid at Merrill Lynch in December, just before BofA’s Jan 1 acquisition of Merrill.
BofA’s Lewis subpoenaed over Merrill
Bank of America chairman and chief executive Ken Lewis was issued a subpoena by New York state attorney general Andrew Cuomo, who is investigating whether the bank withheld information from investors, reports the WSJ.
Pandit: marked to market
And the result is…
Feb. 11 (Bloomberg) — Citigroup Inc. Chief Executive Officer Vikram Pandit said he will take a salary of $1 and no bonus until the bank, which has accepted $45 billion in government bailout money,
Cuomo eyes return of Merrill bonuses
New York Attorney General Andrew Cuomo may demand the return of $4bn in bonuses paid by Merrill Lynch just before it was acquired by Bank of America, reports Bloomberg. Cuomo is also trying to determine what BofA chief executive Ken Lewis knew about the accelerated bonuses and about Merrill’s surprise $15bn Q4 net loss.
Caption competition: ‘Is that you Ken?’
John Thain has left the building and he’s taking his commode on legs with him. So while we still can, we reprise the below picture. Caption suggestions for which are greatly welcomed. Keep ‘em clean.
Just what is it about failed-bank CEOs and cartoon characters?
Related links:
Farewell, John Thain
It has come to this.
John Thain has bid farewell to his herd, and tendered his resignation from Bank of Merrill Lynch of America. No – let’s be frank. Thain’s been ousted.
And what for? According to the WSJ,
“We’re good at this”
…losing money, that is. Not due diligence or canny dealmaking.
Selected excepts from Ken Lewis (Banker of the Year) on the Bank of America/Merrill Lynch conference call, September 15th, 2008.
Enjoy!
…we could have rolled the dice and possibly could have got it at a cheaper price.
Bair on bankers
Several years ago when they lured me out of the serene world of academia to take this job, I was given several promises. They promised me it would be regular hours, nine to five, Monday through Friday,
Shotgun marriage?
From Bloomberg:
Sept. 18 (Bloomberg) — Merrill Lynch & Co. Chief Executive Officer John Thain told employees that Bank of America Corp. “cut our trading lines” in the days before it bought the firm,
Lex, death and the credit cycle
Lex in theatrical mode reminds us that Hamlet said: “If it be not now, yet it will come: the readiness is all”. The tragic prince was of course talking about death. But the same is true in today’s apparently benign credit markets,
BofA backs off on deposits cap
Bank of America will not push for the listing of the current 10 per cent cap on the share of domestic deposits any single US bank can control following an acquisition, Ken Lewis, chief executive, has said.