Robert McCann, UBS Wealth Management Americas CEO, successfully brought four former Bank of America-Merrill Lynch senior managers with him to UBS, but it will be difficult for him to poach any more talent from his former firm, sources close to the matter told CNBC.

Civil War is breaking out on the board of directors of Bank of America over the selection of a successor to CEO Ken Lewis, people close to the company say.

Tom Maheras, Citigroup's former president and the man at the heart of the firm's push into what eventually became tens of billions of dollars in toxic debt, is running a hedge fund that is up 84 percent so far this year thanks at least in part to some unusual investing.

A trader blamed with crippling Citigroup is making a comeback by starting a hedge fund that has already attracted decent interest, people familiar with the situation told CNBC.

The formula to determine Goldman Sachs' executive bonuses will be decided by mid-December, sources familiar with the matter told CNBC, and will set a precedent for other investment companies to follow.

Bank of America's board is expected to delay an announcement on a successor to CEO Ken Lewis until next week.

Robert McCann, the former head of Merrill Lynch's brokerage unit, was named the head of UBS's private client group.

Bank of America is likely just weeks away from selecting a new chief executive officer, but it won't be Barclays' CEO Robert Diamond, CNBC has learned.

Bank of America executives met today with several government entities in the continuing investigation of what the bank disclosed about losses and bonuses at Merrill Lynch when it acquired the brokerage giant late last year, CNBC has learned.

In an effort to reduce criticism over distributing $20 billion in bonuses, banking giant Goldman Sachs will likely either give away most of its bonuses in the form of stock, or significantly increase its charitable donations, according to sources close to the bank.

Goldman Sachs will be scrutinized this week not only for its third-quarter earnings but for how the firm deals with up to $20 billion in bonuses.

Robert McCann, the former head of Merrill Lynch's brokerage group plans to join UBS, either to head its wealth management unit or for a higher position, CNBC has learned.

Chief Risk Officer Greg Curl and Head of Retail Operations Brian Moynihan are the two most likely internal candidates to replace Bank of America CEO Ken Lewis, sources close to the situation told CNBC.

The decision to replace Ken Lewis wil come in weeks, not months, CNBC has learned.