By JIM KUHNHENN | Associated Press Writer
| July 5, 2009
They are the biggest of the big - the Citigroups, the Goldman Sachses, the AIGs and other financial behemoths. The Obama administration doesn't want so many around anymore.
Wells Fargo today officially unveiled the new brand name for its investment banking and capital markets unit and signaled plans to build a business largely inherited from Charlotte-based Wachovia.
Congressional testimony and documents released today shed new light on the Federal Reserve's concerns about Bank of America Corp.'s management following the near unraveling of its Merrill Lynch & Co. purchase in December.
By JEANNINE AVERSA | AP Economics Writer
| June 25, 2009
Federal Reserve Chairman Ben Bernanke told Congress Thursday he didn't pressure Bank of America into acquiring Merrill Lynch in a deal that ultimately cost taxpayers $20 billion.
The Federal Reserve sought to keep other regulators in the dark about problems last year with Bank of America Corp.'s Merrill Lynch & Co. purchase, according to sources familiar with documents obtained by the House committee probing the deal.
San Francisco-based Pacific Coast Bankers' Bancshares said it hired five bankers from Silverton Bridge Bank for its Charlotte-based East Coast operations.
Bank of America Corp.'s retired chief financial officer, Jim Hance, has been elected to the Morgan Stanley & Co. board, the New York investment bank announced today.