Bank of New York
Bank of America announced that Brian T. Moynihan, 50, head of the bank’s consumer and small business banking unit will replace Ken Lewis as president and CEO effective January 1. Prior to this announcement, it was rumored that Bank of New York chief Robert Kelly was in talks. Moynihan joined FleetBoston Financial in 1993 as
Bank of America announced that Brian T. Moynihan, 50, head of the bank’s consumer and small business banking unit will replace Ken Lewis as president and CEO effective January 1. Prior to this announcement, it was rumored that Bank of New York chief Robert Kelly was in talks. Moynihan joined FleetBoston Financial in 1993 as
Bloomberg reports that Bank of New York chief Robert Kelly is in talks with Bank of America to take the CEO slot from Ken Lewis. Regardless of whether Kelly takes it, it’s easy on the one hand to understand why this slot has been so hard to fill. But on the other hand, as JW
The woman applying for a job in a Florida lemon grove seemed way too qualified for the job. “Look Miss,” said the foreman, “have you any actual experience in picking lemons?” “Well, as a matter of fact, yes!” she replied. “I’ve been divorced three times.” 3 Bits of Good Mortgage Industry News We had three
Later today, results of the government conducted stress tests on the nation’s 19 largest are likely to reveal that some of these banks will need about $65 billion in additional capital, maybe more. Banks who need to raise money to cover potential losses in the coming two years are as follows: Bank of America Bank
OK, I am a sucker for the etrade baby ads, along the right side of the site. Tracking TARP Money Where does your favorite bank stand in receiving TARP money? Well, here you go. Chase Exits Warehouse Business Having only 8 clients left, Chase bailed on their warehouse business. “After consideration and review, the Correspondent
ANOTHER BLOW TO MORTGAGE BROKERAGE BUSINESS Prospect Mortgage/Metrocities is exiting the wholesale business. Their e-mail stated, “Based on current market conditions, Prospect Mortgage / Metrocities Mortgage, LLC, has elected to exit the Wholesale lending space.” Yesterday they published their last rate sheet, and took their last locks in this business channel. It is debatable whether