BofA Names Top Banking Business Heads – Mergers, Acquisitions, Venture Capital, Hedge Funds — DealBook – New York Times


Bank of America announced the names of the senior business heads for its corporate, commercial and investment banking operations on Thursday in an internal memo, obtained by Reuters. The changes go into effect after the company completes its acquisition of Merrill Lynch, which goes to a vote among shareholders at both companies on Dec. 5.

Greg Fleming, Merrill’s president and chief operating officer, is expected to become the combined companies’ head of global corporate, commercial and investment banking.

Mr. Fleming will report to John Thain, Merrill’s current chief executive who last month accepted the position as the head of the combined companies’ global banking, securities and wealth management operations.

Under Mr. Fleming will be Brian Brille, from Bank of America, who will oversee corporate and investment banking in the Americas.

via BofA Names Top Banking Business Heads – Mergers, Acquisitions, Venture Capital, Hedge Funds — DealBook – New York Times

zyakaira notes:

It seems to be ill advised and a big mis-step given the record of failures of post merger integration. If the bank does have any strategy behind this seeming mish-mash attempt to cobble together two different pieces, the same should have been time-released to the market. Such arbitrary actions of appointment will only go on to add to an ugly year that was 2008. Mergers are sensitive to cultures and profit making structures already n place and these one-off actions are least likely to ensure any semblance of sanity on their strategy and operations.

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About zyakaira

Investment Banker, 40s, Bangalore This Biopic and this web recreates how one point of view, one person can impact a tremendous economic engine that the world thrives and mis-thrives on. This one has the knowledge and the civil sense , the art of conversation and some good writing to mentor others as powerful and help global managers develop and fine tune their approach on US markets, China, India and the world. Read on here, and let me know what you need. It can be a race for TRPs, a race for new markets and a race to do what is right. I have the pulse of the crisis, the recovery and the market direction and can help you build and refine your strategy as i have helped thousands of managers and multiple global corporations. Of course, it’s more fun if you talk to me. I am in favor of leading this moving of the economic crisis and will partner with you in a soft and subtle way, just the way we both ride to the top. But you can write with us, opine and just reply with aplomb and shine on Twitter , 4 square , Facebook and any other social “choupal” of choice via zyaadakairaada Profile & Portfolio - SocialPicks Different flavours at: http://benchilibowl.wordpress.com http://zyaada.mp

Posted on November 14, 2008, in Bank Stocks, Financial Markets, Global, US and tagged , , , , , , . Bookmark the permalink. Leave a comment.

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