Thomas Montag News
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Brian Moynihan was impatient. It was August 2011, and the Bank of America Corp. chief executive officer was reviewing plans to impose a $5 monthly fee on debit- card users.
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Bank of America Corp. boosted Chief Executive Officer Brian T. Moynihan’s 2012 compensation by more than 70 percent to about $12 million and agreed to increase his base salary for this year.
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Thomas Montag, the former head of sales and trading in the Americas at Goldman Sachs Group Inc., called a set of mortgage-linked investments sold by his firm “one shi**y deal,” according to an excerpt from internal e-mails released by Senate lawmakers.
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Thomas Montag, the former head of sales and trading in the Americas at Goldman Sachs Group Inc., called a set of mortgage-linked investments sold by his firm “one shi**y deal,” according to an excerpt from internal e-mails released by Senate lawmakers.
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Thomas Montag, the former head of sales and trading in the Americas at Goldman Sachs Group Inc., called a set of mortgage-linked investments sold by his firm “one shi**y deal,” according to an excerpt from internal e-mails released by Senate lawmakers.
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Goldman Sachs Group Inc. executives were grilled by U.S. senators probing the bank’s mortgage business as Senator Carl Levin asked why it sold a set of investments the lender had itself labeled “shitty.”
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Bank of America Corp. , the largest U.S. bank by assets, earned $6.3 billion from its global banking and markets division last year, giving that business almost double the annual profit of any other segment.
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Bank of America Corp. , hurt by an exodus of at least 30 senior investment bankers in Europe, is falling behind rivals fighting for a shrinking pool of business.
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Bank of America Corp. ’s investment banking division set aside about 10 percent less for employee compensation than a year earlier as revenue slipped, said two people with direct knowledge of the decision.
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Bank of America Corp. , the largest U.S. lender by assets, is firing as many as 400 employees in its global banking and markets division as revenue from trading and advising clients declines, a person briefed on the matter said.
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