I hear all sorts of rumblings about Merrill Lynch's unhappiness with Bank of America.
In particular, they don't like the fact that BoA has this culture of centralisation, as ML have always been decentralised teams who act dynamically and independently.
Maybe that's the reason they are no longer independent ... they just don't realise it.
You see Brian Moynihan, who is the BoA man trying to pull all of this together, has caused ructions amongst many of the big swinging dicks in the corridors of Number Four, World Financial Center, New York 10080, where ML is based.
So much so, that one disgruntled employee is rumoured to have left a rather large brown and smelly package in the stairwell between the fifth and seventh floors.
Now I know that investment bankers can be animals, but isn't this taking it to extremes?
Oh no, sorry, withdraw that.
They're just showing how they really are full of BS.
Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...
