Tuesday, January 21, 2014

BofA's young bankers 'jumping for joy' over new policy

Though Bank of America Merrill Lynch never really condoned extra weekend work for its young investment bankers, one of the division's top executives sent out a memo recently that's supposed to ensure they get a protected day or two per month. A junior banker tells ABC news that he and his peers are "jumping for joy" about it.

The Charlotte bank joined an increasing number of Wall Street firms that are putting limits on the work-till-you-drop culture among young bankers. Bank of America's review was sparked by the death of a 21-year-old intern in London.

BANK OF THE CAROLINAS NAMES NEW CFO: The Mocksville-based bank has named Megan W. Patton its new senior vice president and chief financial officer. The 32-year-old has been with the bank since 2008.

N.C. TREASURER SETS UP COMMISSION TO STUDY PENSION FUND: Janet Cowell wants to look at governance reforms for the state pension system and has tapped a bunch of government and business leaders to do so. Charlotte's CFO, Greg Gaskins, is on the panel.

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Anonymous said...

Some insightful food for thought for the Obama class warfare, fair share, tax "the rich", 99%ers

Anonymous said...

some insightful food for thought. 85 people in the world control more money than 3.5 billion other people combined. guess obama isn't taxing the rich.

Anonymous said...

Food for thought - most inherited wealth disappears after 3 generations