Posted on May 29, 2008 at 8:32 AM
Filed under: Acquisitions | Integration
Tagged: bank of america , Barbara Desoer , Countrywide Financial , David Sambol

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Best combination of quote and speaker in Thursday morning's news comes from The Wall Street Journal (subscription required):

"We have a history of wanting to do things our way," Mr. Stickler said.

The speaker is Bank of America Corp. spokesman Robert L. Stickler, and the subject is BofA's decision to change course on how it will run Countrywide Financial Corp., once its acquisition of the mortgage business closes. After insisting for months that the combined mortgage operations would be run by Countrywide president and COO David Sambol, the bank now says the division will be run by Barbara Desoer, currently BofA chief technology officer. Sambol has been identified with the aggressive lending that led Countrywide into trouble. Desoer, presumably, will be more of a stickler when it comes to underwriting practices. - Kenneth Klee 

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