Insurance News

Posts Tagged ‘Bank

NEW YORK, (Reuters) – Bank of America Corp (BAC.N: Quote, Profile, Research, Stock Buzz) sees more opportunities for its advisers to sell different financial products to its customers, according to an investor presentation by CEO Brian Moynihan on Tuesday.

Its efforts to “cross-sell” products to different parts of its customer base have been driven in large part by its purchase of Merrill Lynch during the financial crisis.

Bank of America Read the rest of this entry »

Advertisements

In its 2010 Executive Compensation Review, Charlottesville, Va.-based SNL Financial, a provider of financial data and analysis on the banking, financial services and insurance markets, examines pay packages across a number of lines of business for the 2009 fiscal year. While CEO base salary ebbed slightly (down .86%) for all insurance companies, there were some large variances across all lines, notes the report.

For example, while multiline Read the rest of this entry »

(Banking News) Banking regulators have told Bank of Florida Corp. that is has until April 17 to solve the capital shortfall at each of its three bank subsidiaries.

The Naples-based bank holding company (NASDAQ: BOFL) disclosed the Federal Deposit Insurance Corp?s enforcement order in a Securities and Exchange Commission filing on Thursday.

The prompt corrective action directive, issued on March 18, gave the company?s three subsidiaries, Read the rest of this entry »

WASHINGTON (Insurance Headlines) – Republicansabandoned their effort to alter Wall Streetregulatory legislation in a key Senatecommittee yesterday, leaving the fight for the full Senate, and clouding prospects for a bipartisan bill.

Republicans had offered more than 300 amendments to legislation proposed by Senate Banking Committee Chairman Christopher Dodd,but they withdrew them over the weekend. That cleared the way for aquick party-line Read the rest of this entry »

WASHINGTON (Reuters) – Financial giants such as Goldman Sachs Group could be broken up under two bills introduced in Congress Wednesday, one with the backing of former Republican presidential nominee John McCain.

Both would reinstate the 1930s-era Glass-Steagall laws that barred large banks from affiliating with securities firms and engaging in the insurance business. Those limits were largely repealed in 1999, a high-water mark for deregulation. Read the rest of this entry »

CHARLOTTE, N.C., Bank of America’s board of directors has chosen consumer banking chief Brian Moynihan to replace Ken Lewis as CEO of the nation’s biggest bank on Jan. 1.

Their pick of an internal candidate on Wednesday followed a months-long search and unsuccessful attempts to hire a star industry executive for the top job. The negotiations were complicated by pay restrictions imposed by government pay czar Kenneth Feinberg before the Read the rest of this entry »

WASHINGTON (Reuters) – Financial giants such as Goldman Sachs Group could be broken up under two bills introduced in Congress Wednesday, one with the backing of former Republican presidential nominee John McCain.

Both would reinstate the 1930s-era Glass-Steagall laws that barred large banks from affiliating with securities firms and engaging in the insurance business. Those limits were largely repealed in 1999, a high-water mark for deregulation. Read the rest of this entry »