Bank of America Corp. directors plan this week to settle on an emergency CEO pick in case legal turmoil forces Kenneth D. Lewis to step down before year end, according to a person familiar with the situation. Work on the contingency plan began before Mr. Lewis announced his retirement as chief executive officer of the [...]
Published on October 1, 2009 in World Finance and Business. 0 Comments Visited 1 times Advertisement Ken Lewis Bank of America to Retire Ken Lewis Bank of America to Retire and Bank of Oklahoma was practically a fixture on Capitol Hill during the Wall Street bailout debate and subsequent oversight discussions. But Ken Lewis, CEO [...]
Embattled Bank of America Corp. Chief Executive Ken Lewis , fatigued by multiple government probes into himself and his company, will retire at the end of the year. Bank of America said a successor was yet to be determined. Mr. Lewis, 62, faces probes from Congress, the Securities and Exchange Commission and two state attorneys [...]
Bank of America’s shareholders have ousted Ken Lewis as board chairman. He won’t be the last casualty in executive suites In the gathering storm that is shaking corporate America, the most stunning blow against the old order came not in Washington, but in Charlotte, North Carolina. The shareholders of Bank of America ousted Kenneth Lewis [...]
ABC News: Bank of America President Ken Lewis is set to be confronted by the lawyers for New York Attorney General Anthony Cuomo this afternoon over his statements that he had “no authority” over $3.6 billion in bonuses paid to Merrill Lynch executives last December. Investigators say corporate documents obtained by the attorney general suggest [...]
Attorney General Bill McCollum filed suit late Monday against Countrywide Financial, the massive mortgage company that hit financial straits after the real estate bust and which is now being sold to Bank of America. McCollum said the company deceived borrowers into thinking they could afford mortage they couldn’t afford, forcing many people to face foreclosures [...]
Bank of America plans to axe 7,500 jobs as it is all set to acquire Countrywide Financial Corp. The value of the takeover is estimated to be $4-billion. The acquisition is believed to be over by next week. However, the bank said that this move wont affect its call center in Ottawa. Cuts will basically [...]
Apple Day had blog