Bank of America
Bank of America’s Merrill Edge was the second brokerage firm to suffer client account access issues on Wednesday.
Due to the crisis, broker teams will not have to enlist 30% of households in bank and advisory accounts by June 30 to qualify for enhanced payouts.
Bank of America Corp. is seeking to become a one-stop shop for employee benefits.
Craig Young, who has been running branch complexes in California and New York, takes new “national business development” role promoting book-growth incentive programs.
Wealth Management boutique short-stopped a plan by a team of former U.S. Trust bankers to form their own RIA, convincing them to join its ranks on Tuesday.
Fourth-quarter net income at Bank of America’s global wealth and investment management division fell, but client assets rose to a record $4 billion.
Brian Sepe, a former divisional and Latin American wealth head at Merrill, argued that firm’s mortgage fraud during the financial crisis eviscerated the worth of his company stock and options.