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Bank of America Corporation (BAC-PB)
- Reuters
BofA appoints 334 new managing directors, down 8% from last year
The new promotions included 75 investment bankers and 64 employees from the trading division. The second-largest U.S. lender expects to outperform rivals on investment banking fees in the fourth quarter, its CEO Brian Moynihan said last week. "We'll be at about $1 billion in fees this quarter," reflecting a low single-digit decline, Moynihan told investors at a conference.
- Reuters
UPDATE 1-BofA appoints 334 new managing directors, down 8% from last year
Bank of America on Monday promoted 334 employees to become managing directors, a cohort that was 8% smaller than in the previous year. The new promotions included 75 investment bankers and 64 employees from the trading division. The second-largest U.S. lender expects to outperform rivals on investment banking fees in the fourth quarter, its CEO Brian Moynihan said last week.
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