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Financials Brian Moynihan

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  • Departing BofA CFO Thompson will be missed - analysts Thursday, 23 Jul 2015 | 1:13 PM ET

    July 23- Bank of America Corp's surprise move to replace Chief Financial Officer Bruce Thompson got a less-than-enthusiastic reception from at least two prominent Wall Street analysts. Bank of America didn't explain the reasons behind the overhaul, but it came four months after the second-largest U.S. banks by assets barely passed a Federal Reserve stress...

  • July 22- Bank of America Corp said on Wednesday it would replace its chief financial officer and its wealth management chief, a week after the bank reported its biggest quarterly profit in nearly four years. CFO Bruce Thompson, 51, will be replaced by Paul Donofrio from Aug 1. The bank also said David Darnell, the head of wealth management, would retire and be...

  • Bank of America CFO steps down in shake-up Wednesday, 22 Jul 2015 | 7:24 PM ET

    NEW YORK— Bank of America's second-in-command is out of a job following a management shake-up announced late Wednesday. Bruce Thompson, Bank of America's chief financial officer for the last five-and-a-half years, will be stepping down, CEO Brian Moynihan announced. Smith will also be responsible for Bank of America Corp. passing the Federal Reserve's...

  • *Litigation expenses fall to $175 mln from $4 bln. July 15- Bank of America Corp, the No. 2 U.S. bank by assets, reported its biggest quarterly profit in nearly four years as expenses fell to their lowest since the financial crisis. Litigation expenses fell to $175 million from $4 billion a year earlier, allowing the bank to reap the benefits of the cost cuts introduced...

  • NEW YORK, July 15- Bank of America Corp Chief Executive Brian Moynihan has been hiring more sales staff, in areas ranging from commercial lending to wealth management, in his latest effort to boost revenue that has barely budged for years. Previously, Bank of America tried training individual employees to sell multiple products, but now it is focusing more on...

  • July 15- Bank of America Corp, the No. 2 U.S. bank by assets, reported its biggest quarterly profit in nearly four years on Wednesday as mortgage banking revenue soared and expenses fell to their lowest since the financial crisis. Net income attributable to the bank's shareholders more than doubled to $4.99 billion, or 45 cents per share, in the second quarter ended...

  • July 15- Bank of America Corp, the second-largest U.S. bank by assets, reported its biggest quarterly profit in nearly four years on Wednesday as its legal costs dropped sharply, driving expenses down to their lowest since 2008.. Net income attributable to shareholders more than doubled to $4.99 billion, or 45 cents per share, in the second quarter from $2.04...

  • NEW YORK, May 27- JPMorgan Chase& Co officials have not done enough to show how well the company is run, Chairman and CEO Jamie Dimon said on Wednesday, after one-third of shareholders disapproved last week of his pay and the practice of one person holding his two jobs. At the company's annual meeting last week in Detroit, JPMorgan's compensation for top executives...

  • NEW YORK, May 7- Four Bank of America Corp directors on the board's governance committee received unusually small majorities of votes for re-election at this week's annual meeting, according to tallies the company released on Thursday. Shareholder advisory firm Institutional Shareholder Services had recommended voting against the four directors after...

  • NEW YORK, May 7- Four Bank of America Corp directors on the board's governance committee received unusually small majorities of votes for re-election at this week's annual meeting, according to tallies the company released on Thursday. None received more than 71.9 percent of the votes cast, compared with each last year receiving at least 98 percent.

  • NEW YORK, May 6- Shareholders voted to back Bank of America Corp's executive compensation, board nominations and opposition to shareholder proposals at the annual meeting on Wednesday, despite earlier complaints about bylaws being changed. Shareholder advisory firms Institutional Shareholder Services Inc and Glass Lewis& Co had said investors should...

  • Hold Bank of America accountable: Analyst Friday, 24 Apr 2015 | 9:13 AM ET
    Bank of America

    Shareholders should throw out Bank of America's corporate governance board after it promoted CEO Brian Moynihan to chairman, analyst Mike Mayo tells CNBC.

  • BofA: Miss you target, get promoted? Friday, 24 Apr 2015 | 7:31 AM ET
    BofA: Miss you target, get promoted?

    Somebody needs to be held accountable, says Mike Mayo, CLSA analyst, explaining why he thinks Bank of America needs to change some board members and its strategy.

  • *Q1 profit 27 cents/ shr vs. year-earlier loss 5 cents/ shr. *Legal expenses fall to $370 mln from $6 bln. April 15- Bank of America Corp, the No. 2 U.S. bank by assets, posted a first-quarter profit, narrowly beating analysts' estimates, as legal costs fell steeply and the bank earned more from mortgage lending and investment and brokerage services.

  • UPDATE 1-Goldman paid CEO Blankfein $24 mln in 2014 Friday, 10 Apr 2015 | 10:50 AM ET

    April 10- Goldman Sachs Group Inc awarded Chief Executive Lloyd Blankfein $24 million in compensation for 2014, a 4.3 percent increase from a year earlier. Blankfein's base pay was unchanged at $2 million but his cash bonus increased to $7.33 million from $6.3 million in 2013, according to a regulatory filing. Citigroup Inc cut CEO Michael Corbat's pay by...

  • BOSTON, March 26- Bank of America Corp will not hold a shareholder vote on its decision to reunite the roles of chairman and chief executive officer, according to the bank's proxy statement filed on Thursday. But both also said they would support Bank of America directors this year after the bank separately adopted a rule change to make it easier for shareholders...

  • March 20- Bank of America Corp joined a growing list of U.S. companies that are changing their corporate governance rules to make it easier for shareholders to nominate directors, after talks with pension funds. New York City Comptroller Scott Stringer, who oversees pension funds and has pushed for proxy access at other companies, said Bank of America made its...

  • UPDATE 1-Citigroup CEO Corbat earned 10 pct less in 2014 Wednesday, 18 Mar 2015 | 5:56 PM ET

    March 18- Citigroup Inc cut its chief executive Michael Corbat's annual compensation by 10.3 percent in 2014, citing high legal expenses and the company's failure to win regulatory approval for its capital plan last year. Corbat's earned a total of $13 million for 2014, down from $14.5 million a year earlier, according to the compensation approved by Citi's...

  • Feb 26- Bank of America Corp said on Thursday that two members of its board of directors and its chief accounting officer will be leaving the company in coming weeks. Directors Charles "Chad" Holliday, who chaired the bank's board until chief executive Brian Moynihan took on that role in October, and Clayton Rose will not stand for re-election at the company's...

  • Feb 20- Citigroup Inc cut Chief Executive Michael Corbat's pay by about 10 percent in 2014, a year in which the bank's profit nearly halved due to higher legal costs and a slump in bond trading. Deferred stock makes up 30 percent of Corbat's bonus pay under Citi's compensation plan, which was overhauled two years ago amid shareholder pressure.