Word: banc
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Dates: during 2000-2009
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...Laura P. Humber ’02, a second-year analyst at Banc of America Securities, said men still dominate on Wall Street...
...allegations center on one hedge fund, Canary Capital Partners, and its relationships with mutual-fund companies, including Bank of America's Nation's Funds, Banc One, Janus and Strong. Spitzer says the trail could lead to hundreds of mutual-fund companies. The Securities and Exchange Commission is investigating. The Investment Company Institute pledges full support of the probe...
...course, it isn't just big guns like Gross who have the power to move markets and cause interest rates to spike. Many bond traders are like Brian Edmonds, head of Treasury-bond trading for Banc of America Securities. Blond, trim and a former Harvard lacrosse player, he sits at his desk all day interpreting economic data and trying to predict what the zig-zagging numbers might mean for the market. When claims for unemployment benefits ticked higher last Thursday, it suggested weakness in the economy. Investors promptly bid up bond prices. But Edmonds saw hidden strength in the news...
...charges. Federal prosecutors allege that Waksal learned on Dec. 26 that the U.S. Food and Drug Administration was about to deny approval to ImClone's cancer drug, Erbitux. Between Dec. 26 and Dec. 28, authorities say, Waksal tried to sell $5 million in ImClone stock; brokers at Merrill and Banc of America Securities blocked him. His daughter Aliza, however, sold $2.5 million of ImClone on Dec. 27. And Stewart sold $228,000 worth on the same day. The next day, ImClone announced the bad news about Erbitux...
Waksal never made his stock sale because brokers at Merrill Lynch and then Banc of America Securities refused to execute the trades without checking with ImClone lawyers, who had issued a rule barring employees from trading because of the pending news on Erbitux. But Waksal's father Jack sold $6.7 million worth of ImClone, and his daughter Aliza sold $2.5 million, according to authorities. Sam Waksal's lawyer, Mark Pomerantz, denies any wrongdoing by his client, calling the evidence "circumstantial." Ditto from Jack's lawyer. Aliza's attorney, Stephen Kaufman, could not be reached for comment...