Nobody Wants To Lead Bank Of America

Author:
Updated:
Original:

The country's biggest bank needs a CEO, and given how well things have gone for Bank of America in recent years, some people think that some fresh blood is in order. The fresh blood, by contrast, seems to disagree.
The latest to withdraw his name from consideration for the worst job on Wall Street is Robert Kelly, who currently leads Bank of New York Mellon. Approached about moving back to his old Charlotte haunts to take the reins of old BofA, ex-Wachovia chief Bobby apparently couldn't wait to tell the approachers to go find another sucker.

Mr. Kelly has shown no interest in the job, said a person familiar with his thinking.


Welcome to the bandwagon, Kelly. You don't have what it takes to fill Ken Lewis' shoes. Your stupid firm wasted no time in returning its government bailout dollars. Ken Lewis is still swimming in BofA's $45 billion TARP pool.
Who's diving into the deep end when the big guy calls it quits at the end of the year?
BNY Mellon CEO Kelly Tells BofA: No, Thanks [WSJ]

Related

Who Wouldn't Want To Sue Bank of America?

August was kind of rough for Bank of America on the legal front, to the point that we once said in Write-Offs "Everybody who hadn’t yet sued BofA did today, or will soon." But that turned out to be wrong! Or at least, it underestimated the continuing appeal of suing Bank of America, because now not only is everyone who is not Bank of America suing Bank of America, but so is Bank of America: [I]n Florida's Palm Beach County alone, Bank of America has sued itself for foreclosure 11 times since late March, according to foreclosure fraud activist Lynn Szymoniak, who forwarded one such foreclosure filing, dated March 29, 2012, to The Huffington Post. ... In the March 29 filing, Bank of America is seeking to foreclose on a condominium and names the condo owner and Bank of America as defendants in the suit. The company is literally seeking damages from itself in order to foreclose on the condo owner. Ha ha ha but why is Bank of America a delinquent condo owner? Because of course it's not; it's the second lien holder: