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MarketScreener Homepage  >  Equities  >  Nyse  >  Bank of America Corporation    BAC

BANK OF AMERICA CORPORATION

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STREET MOVES: Morgan Stanley Hires Credit Suisse, Merrill Financial Advisers

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03/22/2012 | 02:21pm EDT
   By Brett Philbin 
   Of  
 

Retail brokerage joint venture Morgan Stanley Smith Barney recently hired financial advisers from Credit Suisse Group AG (CS) and Bank of America Corp.'s (>> Bank of America Corp) Merrill Lynch Wealth Management.

Last Friday, Bryce Kenny joined Morgan Stanley's Tampa, Fla. office from Credit Suisse's U.S. private banking business. Kenny, who reports to Complex Manager Dan Cedro, generated $2.6 million in fees and commissions and managed $475 million in client assets.

Before joining Morgan Stanley Smith Barney, Kenny worked at Credit Suisse for more than eight years, according to Financial Industry Regulatory Authority records.

Additionally, Morgan Stanley recruited Thomas DeRosa, a 10-year Merrill Lynch veteran, to its New York office on West 52nd Street. DeRosa, who reports to Complex Manager Gerald Ferrante, had about $1.3 million in annual production and $100 million in assets under management, according to a company spokeswoman.

A Merrill Lynch spokeswoman confirmed DeRosa's departure, but said his production was $991,000. A Credit Suisse spokesman confirmed Kenny had left the firm.

(STREET MOVES chronicles the migration of executives on Wall Street, with a particular emphasis on financial advisers with more than $1 million in annual production and who manage more than $100 million in client assets.)

-By Brett Philbin, Dow Jones Newswires; 212-416-2173; brett.philbin@dowjones.com

Stocks mentioned in the article : Bank of America Corp
Stocks mentioned in the article
ChangeLast1st jan.
BANK OF AMERICA CORPORATION 2.21% 31.02 Delayed Quote.23.17%
CITIGROUP INC. 2.97% 71.81 Delayed Quote.33.96%
CREDIT SUISSE GROUP AG 2.10% 12.42 Delayed Quote.12.64%
MORGAN STANLEY 3.02% 44.98 Delayed Quote.10.11%
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Financials (USD)
Sales 2019 91 745 M
EBIT 2019 36 325 M
Net income 2019 25 510 M
Debt 2019 -
Yield 2019 2,13%
P/E ratio 2019 11,5x
P/E ratio 2020 10,4x
Capi. / Sales2019 3,07x
Capi. / Sales2020 3,08x
Capitalization 282 B
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Technical analysis trends BANK OF AMERICA CORPORATIO
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 32,91  $
Last Close Price 31,02  $
Spread / Highest target 41,8%
Spread / Average Target 6,08%
Spread / Lowest Target -9,74%
EPS Revisions
Managers
NameTitle
Brian T. Moynihan Chairman, President & Chief Executive Officer
Catherine P. Bessant Co-COO & Chief Technology Officer
Thomas Kell Montag Co-Chief Operating Officer
Paul M. Donofrio Chief Financial Officer
Thomas J. May Independent Director
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