25 result(s) displayed (1 - 25 of 45):
We speculated earlier Monday that IBM Corp. (NYSE:IBM) might want to buy data storage company Brocade Communications Systems Inc. (NASDAQ:BRCD), which may be for sale. But while we were speculating, IBM was announcing--and the deal it unveiled is a bit removed from the M&A path IBM has beaten of late....
Posted on October 5, 2009 3:29 PM
When we talk about post-merger integration, the discussion often runs to culture or IT issues or tough marketing choices or plain old cost synergies. But what about post-merger brand integration? That's a task that touches on all those areas and other besides. Indeed, the branding decisions can be some of...
Posted on August 14, 2009 8:40 AM
In December, American Banker named Bank of America Corp. (NYSE:BAC) chief executive Ken Lewis Banker of the Year. Now, they don't know who's in charge and what kind of culture the bank is leaning toward. Of former Citigroup Inc. (NYSE:C) CFO and global head of wealth management Sallie Krawcheck's hire,...
Posted on August 7, 2009 10:01 AM
We last called David Ernst of joint venture consultancy Water Street Partners in February to discuss why so many JVs are getting restructured during the economic downturn. With several JVs in the news lately, we figured it was time to check in again to ask if there are any further...
Posted on July 7, 2009 1:32 PM
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,...
Posted on July 6, 2009 12:03 PM
Strategics in the oil sector feeling an economic upturn is in sight have been running to the deal table as valuations are still a bit depressed. In turn, investment banks and law firms alike have responded by hiring as they look to reign in M&A advisory fees.Some big deals have...
Posted on July 2, 2009 10:11 AM
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...
Posted on June 29, 2009 10:28 AM
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...
Posted on June 5, 2009 11:24 AM
Investment banking veteran Michael Caulfield, like many of his Bank of America Corp. (NYSE:BAC) colleagues, has left the firm. But he didn't defect to a rival, instead choosing to join a company he was charged with figuring out strategic alternatives for -- Digital Ally Inc. (NASDAQ:DGLY).First, a little background...
Posted on June 2, 2009 1:35 PM
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...
Posted on April 20, 2009 8:55 AM
The healthcare industry is restructuring itself to reduce its reliance on blockbuster drugs while trying to gain a foothold in the generics market and the emerging markets. We've seen megamergers and bolt-ons, and there's more to come. New York boutique investment bank Centerview Partners LLC is right on top of...
Posted on April 15, 2009 12:47 PM
Bank of America Corp.'s (NYSE:BAC) long-running San Francisco investor conference is the latest victim of the $50 billion acquisition of Merrill Lynch & Co. According to the San Francisco Business Times, BofA will no longer host the 38-year-old event, which had gathered institutional investors and executives from a range of...
Posted on April 7, 2009 4:55 PM
About 13,000 workers have abandoned fraud-hit IT outsourcer Satyam Computer Services Ltd. (NYSE:SAY) to join clients and other rivals, according to one report. And it looks like 250 to 300 of them are getting signing bonuses and salary increases as they join Bank of America Corp. (NYSE:BAC).The Business Standard...
Posted on April 2, 2009 11:44 AM
The flogging of Bank of America Corp. (NYSE:BAC) chief executive Kenneth Lewis over the acquisition of Merrill Lynch & Co. continues. Finger Interests Number One Ltd., which owns about one-fifth of 1% of BofA, has made its rally to oust Lewis and two other directors from the board official. In...
Posted on March 24, 2009 9:35 AM
Despite the beating he's taken from lawmakers and shareholders, Bank of America Corp. (NYSE:BAC) chief executive Kenneth Lewis (pictured) remains bullish on the bank's $50 billion purchase of Merrill Lynch & Co. In an interview with his hometown paper, the Charlotte Observer, Lewis said he does not regret buying Merrill...
Posted on March 17, 2009 4:07 PM
In perusing the Charlotte Observer on Monday for reaction to the skewering Bank of America Corp. (BAC: NYSE) chief executive Ken Lewis is taking over those Merrill Lynch & Co. bonuses, I came across a tiny bit of hopeful news for unemployed bankers. In an article in Sunday's edition, Michael...
Posted on March 9, 2009 5:20 PM
Marc Montagner has joined SkyTerra Communications as executive vice president of strategy, development and distribution. In the position Montagner will be responsible for identifying and securing strategic relationships for the wireless firm -- and he brings with him an extensive professional network.Most recently, Montagner co-led the global telecom, media and technology...
Posted on February 26, 2009 7:44 AM
Bloomberg has a story Friday on unrest among Merrill Lynch & Co. brokers, some of whom are rebelling against new owner Bank of America Corp. Retaining Merrill's investment bankers is a priority for BofA chief executive Ken Lewis, but as we've noted, blending Merrill's investment banking culture with BofA's...
Posted on January 9, 2009 11:08 AM
Now that Merrill Lynch & Co. shareholders have approved the firm's sale to Bank of America Corp., employees at both companies may finally get word on job cuts. BofA chief executive Ken Lewis told The Charlotte Observer on Thursday that the bank was "in the final stage of analysis" on...
Posted on December 5, 2008 9:58 AM
In a lunch meeting at the Detroit Economic Club on Tuesday, Bank of America Corp. CEO Ken Lewis (pictured) said he would only favor a bailout for cash-leaking Big Three automakers General Motors Corp., Chrysler LLC and Ford Motor Co. if it were to yield major consolidation in the industry....
Posted on November 19, 2008 9:27 AM
Last week, Bank of America Corp. was one of the banks taking flack from Congress for not making more loans with its $25 billion in TARP money.Monday there are reports that BofA is exercising its option to increase its stake in China Construction Bank Corp. from 10.8% to 19.1%. It's...
Posted on November 17, 2008 9:58 AM
It's ironic that amidst waves of bank employee layoffs, talent retention would be a concern among merging financial institutions. But keeping top talent is a key piece of the synergy puzzle for Bank of America Corp., J.P. Morgan Chase & Co., Barclays plc and other acquiring banks. In this edition...
Posted on November 10, 2008 11:32 AM
Don't expect banking industry consolidation to slow anytime soon. That's according to Dino Mauricio, a managing director of M&A integration at the management and financial consultancy Getzler Henrich. Over the next six to eight months, Mauricio predicts we'll see financially stable banks on the hunt. "Weaker banks in this environment...
Posted on November 10, 2008 8:04 AM
Wells Fargo & Co. announced Tuesday it would lay off workers at its mortgaging service center in Fort Mill, S.C. While the bank says the layoffs reflect "the reality of the market," it's worth noting that Fort Mill is located just across the South Carolina border from Charlotte, N.C., home...
Posted on November 4, 2008 4:51 PM
Companies around the globe are struggling with credit, for example, there's the financing trouble with Hexion Specialty Chemicals Inc.'s $10.5 billion purchase of Huntsman Corp. But Israeli generic drugmaker Teva Pharmaceutical Industries Ltd. lucked out with its $7.46 billion acquisition of Montvale, N.J.'s Barr Pharmaceuticals Inc. A syndicate of...
Posted on October 28, 2008 2:14 PM
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