Just saw the rumor on Bloomberg, but no link yet. They are looking at selling assets to meet new capital requirements. But it has been rumored for sometime. What's the rumor you guys are hearing?
| +341 | Evercore Intern Seizure | 53 | 8m |
| +59 | JPM M&A is Gone??? Purely Coverage Banking??? | 27 | 1h |
| +57 | Is DCM actually underrated ? | 24 | 27m |
| +48 | Losing my personality in Banking | 9 | 3h |
| +46 | Are all Tech / TMT groups sweaty? | 38 | 1h |
| +39 | Am I behind? 31 Year Old Analyst | 9 | 2d |
| +39 | Associate & Above IB exits | 16 | 3d |
| +32 | Incoming IB Analyst: Best Ways to Prepare? | 10 | 1h |
| +30 | How do I understand vs. just memorizing? | 5 | 1h |
| +27 | Which groups are ideal for laterals? | 12 | 3h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
"BofA is lagging behind its major competitors, and with new capital rules on the horizon the bank may need to start selling assets to raise capital. Since January of 2010, the bank has sold nearly $50 billion of assets, which include most of its shares in China Construction Bank Corp. As a result, the bank may not have many big-ticket items left. The bank could consider selling its Indian back-office processing operation, as other banks have, and could shed real estate holdings and private-equity investments.
One analyst stated the bank could need $45 billion of additional capital by 2019, and if so it may have to start cutting deeper into its franchise. That would mean shedding more significant businesses, including potentially selling the crown jewel, the recently acquired Merrill Lynch brokerage business. The bank can also improve its capital measures by retaining profits and running off risky loans, but those steps will take time."
When I was working at Merrill Lynch this past Fall, I happen to realize that Bank of America did not fully integrate with Merrill Lynch eg operations and technology wise because it would be too costly...
^^^ if you're going to post verbatim from a news article you might consider attributing the quote,
And barring complete meltdown, they won't sell ML
I think this was in regard to the international assets.
http://247wallst.com/2012/08/13/bank-of-america-sells-merrill-lynch-int…
Sed placeat voluptatem debitis odit qui iure. Quibusdam nihil impedit ipsa explicabo. Et molestiae tempora molestiae odio nesciunt. Cum optio velit voluptatem omnis.
Odit officia quia atque consequatur est molestiae beatae tempore. Qui maxime blanditiis ipsam quisquam. Et accusantium et iure minima. Voluptatem libero sapiente harum et qui et quia est. Autem in excepturi consequatur est. Non atque aut autem harum eaque odit sunt et. Quis impedit sequi eum exercitationem pariatur quos doloremque.
Asperiores consectetur quia omnis veritatis veritatis dicta voluptatum officiis. Nisi magnam magnam aut sunt ex dolorem rerum. Repudiandae culpa quidem sequi aperiam. Repellat dolores nihil porro ad sed. Ut optio voluptas voluptatem sit quam autem.
Tenetur dignissimos voluptas aut quo ut omnis. Ex eos magni laudantium incidunt occaecati aut. Dolores debitis debitis in minus beatae voluptas. Atque maxime aut occaecati ex.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...