Posts que contém a Tag senior executives

Rumours Resurface About Power Struggle At Top Firm
MarketWatch reports that senior executives at Bank of America Merrill Lynch are ‘locked in a stand-off’, as European bosses ‘argue over how the business should be run’.
At issue appears to be the way that the European operation is run. Merrill is said to want to continue to operate a decentralized model, whilst Bank of America seeks a ‘command and control’ structure, which most Merrill staff seem to regard as cumbersome and bureaucratic. MarketWatch quotes one unnamed London-based former Merrill staffer, who said that the view is that ‘we’ll do it the Bank of America way and no other – even though that got them nowhere in European investment banking for the past 5 years’.
In the meantime, Merrill staff point out that $3.7bn of the $4.6bn in the first-quarter profits Bank of America reported Monday were brought in by Merrill units, although cynics point out that the strong fixed income earnings are unlikely to be repeated through the rest of the year.
Finally, Bloomberg reports that Connecticut State Treasurer Denise Nappier, who heads up the state’s Retirement and Trust Funds, has confirmed that she will vote against the re-election to the board of CEO Ken Lewis and two other executives.
Here Is The City News

last updated: 21 April 2009