Who's out: The bank said on Oct. 24 it was replacing Gene Taylor, head of its investment bank, with Brian Moynihan as part of a management reshuffle. Moynihan had previously led the company's global wealth and investment management division. Taylor will retire at the end of the year.
What's shaking: Bank of America slashed 3,000 jobs across its businesses as part of the restructuring. The majority of the cuts affect its investment bank. The company is also exiting the wholesale mortgage business.
Cause of concern: Bank of America's investment bank profit fell 93 percent to $1.33 billion in the third quarter.
|
|
|
|
Bank of America
| |
© 2009 Cable News Network. A Time Warner Company. All Rights Reserved.
Terms under which this service is provided to you. Privacy Policy
Live Quotes automatically refresh, but individual equities are delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET.
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer
| Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use. MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc. Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use. Intraday data is at least 20-minutes delayed. All times are ET. Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data. Fundamental data provided by Morningstar, Inc.. SEC Filings data provided by Edgar Online Inc.. Earnings data provided by FactSet CallStreet, LLC. |
