Posted on October 23, 2009 at 11:46 AM
Filed under: Best Practices | Crisis On Wall Street
Tagged: Kenneth Feinberg , too big to fail

It's not the size of the paychecks that's the problem. It's the way the compensation packages are structured. Dial down the cash, dial up the stock  (and increase vesting and holding periods), and you'll promote long-term value creation by the people who work in finance. That was the message on...  Continue reading

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Posted on July 6, 2009 at 12:03 PM
Filed under: Crisis On Wall Street | Integration
Tagged: Bank of America , Scorpio Partnership , UBS

Bank of America Corp. (NYSE:BAC) not only became the world's largest bank with its $50 billion acquisition of Merrill Lynch & Co., it also became the world's largest wealth manager. According to a survey from the wealth management consulting firm Scorpio Partnership, BofA, with $1.5 trillion under management in 2008,...  Continue reading

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Posted on June 29, 2009 at 10:28 AM
Filed under: Acquisitions | Crisis On Wall Street | Integration
Tagged: Bank of America , Brian Moynihan , integration , Ken Lewis , Merrill Lynch

Bank of America Corp.'s (NYSE:BAC) integration of Merrill Lynch & Co. continues at pace, despite chief executive Ken Lewis' numerous treks to Capitol Hill, stress test results, high-level talent defections and other distractions. In an interview with American Banker, integration leader Brian Moynihan admits external pressures are adding to the...  Continue reading

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Posted on June 5, 2009 at 11:24 AM
Filed under: Crisis On Wall Street | Movers & Shakers
Tagged: Amy Woods Brinkley , Bank of America , Gregory Curl , Merrill Lynch & Co.

That Bank of America Corp.'s (NYSE:BAC) chief risk officer Amy Woods Brinkley is leaving is no surprise. BofA shareholders and federal regulators have been lobbying for an overhaul of the board and management for weeks. Brinkley follows board members O. Temple Sloan and Robert Tillman out the door, and chief...  Continue reading

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Posted on June 1, 2009 at 11:07 AM
Filed under: Crisis On Wall Street | Joint Ventures and Alliances
Tagged: Citigroup , Morgan Stanley , Morgan Stanley Smith Barney

Morgan Stanley (NYSE:MS) and Citigroup Inc. (NYSE:C) closed Monday on their brokerage joint venture, months ahead of schedule. The deal, which mergers Morgan Stanley's global wealth management group with Citi's Smith Barney U.S. unit, was originally targeted to close in the the third quarter of 2009. The combined brokerage, called...  Continue reading

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Posted on May 22, 2009 at 9:50 AM
Filed under: Acquisitions | Best Practices | CD Community | Corporate Strategy | Crisis On Wall Street | Deal International | Growth Strategy | Joint Ventures and Alliances | Trends
Tagged: BCG , Electricitie de France , Fiat SpA , GlaxoSmithKline , Josh King

Recent deals done by GlaxoSmithKline plc (NYSE:GSK), Electricitie de France SA and Fiat SpA serve as prime examples of the extreme dealmaking that was talked about at October's Corporate Dealmaker Forum. That was about the time the recession was settling in for the long haul.A Reuters article highlighted these companies...  Continue reading

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Posted on May 8, 2009 at 11:11 AM
Filed under: Acquisitions | Corporate Strategy | Crisis On Wall Street
Tagged: capital one financial

If you were told a year ago that America's banks were headed for big trouble and that the government would end up giving them a report card for soundness, would you have guessed that Capital One Financial Corp. (NYSE:COF) would end up at the head of the class?  Think about...  Continue reading

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Posted on April 30, 2009 at 5:22 PM
Filed under: Corporate Strategy | Crisis On Wall Street | Legal Brief
Tagged: knowledge@wharton

If you're a lawyer or often work with lawyers (which probably covers nearly everyone reading this) you know about the painful downsizing underway at many law firms.You may also be up on the rethinking of the law firm business model that's apparently underway in many quarters. Still, take a look...  Continue reading

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Posted on April 29, 2009 at 11:45 AM
Filed under: Acquisitions | Best Practices | Crisis On Wall Street | Integration
Tagged: 21st Century Insurance Group , Farmers Group Inc. , Zurich Financial Services Group

When your company has an acquisition to integrate, it's always important to explain to your own troops, or even over-explain, what it is you're doing and what it means for them. This is especially important when you're highly dependent on a well motivated sales force who will be affected by...  Continue reading

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Posted on April 20, 2009 at 8:55 AM
Filed under: Acquisitions | Crisis On Wall Street
Tagged: Bank of America , Finger Interests , Jonathan Finger , Ken Lewis , Merrill Lynch

Bank of America Corp. (NYSE:BAC) chief executive Ken Lewis said Monday morning that the integrations of Merrill Lynch & Co. and Countrywide Financial are on track. His comments came as the bank released an encouraging first-quarter earnings report that showed profit of $4.2 billion, up from $1.2 billion during the...  Continue reading

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