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A-Rod And Tom Montag Had A Little Chat

According to Charlie Gasparino, the 3rd baseman was at Bank of America recently to discuss his post-baseball career options.
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Though it's unclear if Rodriguez has sent Montag a fresh copy of his résumé and cover letter, or if he's just having a little fun with various financial institutions before getting serious with Point72 Asset Management.

According to people with direct knowledge of the matter, the New York Yankees once star third-baseman, and now its much benched designated hitter, was spotted inside Bank of America (BAC) last week having a meeting with the company’s second most powerful man: Chief operating officer, Thomas Montag. These people say the conversation between the two covered a number of areas, including some discussion on what Rodriguez might do when his baseball career is over...People with knowledge of the conversation say no specific job was offered and that Rodriguez didn’t specially ask for one. Rodriguez’s contract is up through 2017 season and he has indicated he will play through that time.

Yankee Alex Rodriguez May Go to Bat for Bank of America [FBN]


Merrill Lynch Bankers Just Want To Live, Damn It!

They (still) can't deal with Bank of America's freaky ass rules.

Bank Of America Hoping To Fire Thousands Of Employees In Record Time

Remember Project New BAC, i.e. Bank of America's plan to transform itself from Ken Lewis's house of fun, where everyone went home happy but the concept of making money was less of a focus than keeping the good times coming, to an institution that did things like post profits? The bank has said previously that PNBAC "will result in $8 billion in annual savings by 2015—$5 billion from the first phase and $3 billion from a second phase" and while it stands by those figures and remains committed to cutting as many employees as it takes, some people would like them to be a bit snappier about it. Bank of America is accelerating a broad cost-cutting plan and has set a target of shedding 16,000 jobs by year's end—cuts that would see the company relinquish its title as U.S. banking's largest employer. The proposed year-end total of 260,000 would be the lowest count since 2008 and likely give Bank of America a smaller workforce than JPMorgan Chase, Citigroup, or Wells Fargo...Chief Executive Brian Moynihan is trying to speed the company's transformation into a smaller and more efficient operation as he tries to persuade investors that expenses can be adjusted to compensate for revenue lost to new regulations, an uneven economy and shaky markets. Since becoming CEO in 2010, he has shifted away from a nationwide expansion strategy embraced by his predecessors Hugh L. McColl Jr. and Kenneth D. Lewis, and shed many of the businesses that he considers to be nonessential...Hitting the new staffing target would fulfill a year early Mr. Moynihan's pledge to slash the bank's workforce by approximately 30,000. "If they want to make any headway toward improving profitability," said Sterne Agee & Leach Inc. senior banking analyst Todd Hagerman, "they need to accelerate the timeline." Bank Of America Ramps Up Job Cuts [WSJ]