Word: streets
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Dates: during 2010-2019
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...bull is breathing all over Wall Street...
...little more than a year after Merrill Lynch was officially swallowed by Bank of America, many of the executives of the once storied Wall Street firm - which used the animal that is synonymous with rising stock markets as its mascot - have landed in leadership positions around the financial world...
...typical for executives to leave their firm after it has been acquired. But Bank of America's acquisition of Merrill Lynch has turned out to be a recruiting bonanza for other Wall Street firms. In December, Morgan Stanley hired former Merrill president Gregory Fleming to head the firm's investment-management division. Another top former Merrill executive, Bob McCann, was picked to run the wealth-management division of Swiss bank UBS, which has more than 8,000 brokers. (See the best business deals...
...think it is a testimony to the quality of senior management at Merrill," says Gary Goldstein, a top Wall Street recruiter. "A good number of them have landed on their feet, and not been stigmatized by the actions of a few people...
...Geithner--head of the New York Fed when the e-mails were sent--was called to testify Jan. 27 on Capitol Hill, along with his Treasury predecessor Henry Paulson. At issue: the use of taxpayer money to cover AIG's debts to Goldman Sachs, Morgan Stanley and other Wall Street firms. Both men defended the "backdoor bailout" and denied any involvement in the alleged attempt to hide the details of payments...