BofA research?

Any word on what’s happening in research at BofA? I’d heard that the company just let go of 18 senior analysts (and presumably their whole teams)?

I know quite a few people that got cut from BofA. From what they tell me, it was pretty drastic. I still owe you an e-mail. If I hear any more details, I’ll let you know.

Heard the same thing…looks like it swept through pretty quickly yesterday too. That is rough…would be curious to hear more details as to what’s going on in that overall department though. They had several good analysts and obviously this is a very bold move on the part of the firm. Sure FIAnalyst, drop me an email anytime…happy to discuss or chat about anything

B of A looks like they are exiting Wall Street, capital markets, I banking etc. Or at least diminishing their presence big time. All to go and chase the retail banking customer and sell Joe Sixpack mortgages and open IRA’s etc. It’s a dity job, but I guess someone has to do it

boa called me about an interview 2 months ago. said they were reneging on their interview because the position is no longer available because of “structural changes” within the bank…lol

bmwhype, were you able to find a job on wall street or are you still looking?

numi not sure if you have bloomberg, assuming you do. there is an article with names in top news

Can’t believe they let go of John McDonald, he was like 1 or 2 in II rankings. I’ve only gotten a few “dropping coverage” emails so far.

what are you talking about? i was never in the job search market. i’m employed at citi.

what i meant was, you had been looking for a job in banking before and i was wondering if that ever panned out for you

Agree with you Halifax. They have clearly made their bet on commercial banking and for what it’s worth I think it is the right move. Their core competency seems to be that they have branches and ATMs everywhere. While they fought their way onto Wall Street and weren’t a bad investment banking and brokerage firm, it clearly wasn’t their strength. The CFC deal and these layoffs were the final touches on the transformation.