Are We Having Fun Yet? Ken Lewis Says Yes


He may be in charge of the firm who’s investment banking unit recently reported a 93 percent decline for the third quarter and a 32 percent decrease in overall net income, but Ken Lewis still cannot claim the title of biggestfuckup on Wall Street and for that, he deserves a prize—the finest E money can buy, courtesy of James Cayne (who actually prefers the love drug to weed, a little kernel of truth the Journal somehow glaringly left out this morning). Lewis is also being honored by the British-American Business Council with its Transatlantic Business Award this evening, according to DealBook, for his “outstanding leadership in advancement of the trans-Atlantic partnership.” Having obtained part of KL’s acceptance speech, the ‘Bookies note that the BoA CEO is expected to tout the firm’s investment banking arm, and give no indication of a retreat in that unit. Sort of surprising, since the last time we heard from Special K (his d of choice), he said investment banking just wasn’t as “fun” as it used to be, and, to the naked eye, washed his hands of the whole operation. Apparently, not so! You think this means the fired employees from Banc of America Securities are going to be rehired? Let us know.
BofA Chief Sees No Investment-Banking Retreat [DealBook]