Bloomberg reported this morning (US time) that BofA is looking to cut 25% of Analysts. This information apparently came from "a person". Any news on whether this will happen, which areas this will affect and whether this is going to affect the US or international Analysts more badly?
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"It is a fine thing to be out on the hills alone. A man can hardly be a beast or a fool alone on a great mountain." - Francis Kilvert (1840-1879)
"Ce serait bien plus beau si je pouvais le dire à quelqu'un." - Samivel
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"It is a fine thing to be out on the hills alone. A man can hardly be a beast or a fool alone on a great mountain." - Francis Kilvert (1840-1879)
"Ce serait bien plus beau si je pouvais le dire à quelqu'un." - Samivel
B of A may also have a problem with their IBD analysts in the future. In the summer of 2006, they paid about 1/3 (don't know the exact number) of their analyst class to take off a year before starting. Now they have both classes of their 2007 summers that they gave offers to and the remaining 2006s all scheduled to start FT in 2008. I heard about this before the credit crisis, so I am curious if anyone who works there in IBD can shed some light on this.
I hope BoA goes under. Especially the commercial banking division. Nothing against the people who work there, but because their practices are just so fucked up. Right up there along with Chase.
"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
You definitely do not want BofA to go under. It benefits no one to have a major player go under because of the disruption that it will cause in the marketplace.
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Research Analysts.
If anyone is interested, here is the Bloomberg article.
http://www.bloomberg.com/apps/news?pid=20601087&sid=attOQILewT3A&refer=…
-------------------- "It is a fine thing to be out on the hills alone. A man can hardly be a beast or a fool alone on a great mountain." - Francis Kilvert (1840-1879) "Ce serait bien plus beau si je pouvais le dire à quelqu'un." - Samivel
The article is referring to research analysts (along with their teams), and the cuts were made yesterday.
B of A may also have a problem with their IBD analysts in the future. In the summer of 2006, they paid about 1/3 (don't know the exact number) of their analyst class to take off a year before starting. Now they have both classes of their 2007 summers that they gave offers to and the remaining 2006s all scheduled to start FT in 2008. I heard about this before the credit crisis, so I am curious if anyone who works there in IBD can shed some light on this.
I hope BoA goes under. Especially the commercial banking division. Nothing against the people who work there, but because their practices are just so fucked up. Right up there along with Chase.
"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-
You definitely do not want BofA to go under. It benefits no one to have a major player go under because of the disruption that it will cause in the marketplace.
Reprehenderit cum assumenda minima animi facilis commodi. At hic inventore blanditiis et doloribus vel explicabo. Qui dolores culpa est dolor nostrum. Vel error nesciunt nesciunt quam dignissimos. Quos rerum fugiat dolores aliquam ut corporis accusantium.
Dolorem eos veritatis iure asperiores magni. Accusamus autem id asperiores temporibus. Iste occaecati harum sapiente.
Dolorem dolore tempora voluptate in. Nisi consequatur eos nihil commodi dicta. Id ut quis et quae.
Cum provident est odio dolores praesentium minima neque. Sunt voluptatibus assumenda aperiam occaecati. Quos veritatis neque autem velit. Voluptates sapiente eaque ut vel dolore quis non. Molestiae dolorem eos quis omnis ex.
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