BofA Said To Have Got Another Turn-Down
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Kelly is said to have joined a list of top CEOs, including Bob Diamond at Barclays, Larry Fink at BlackRock and Bill Winters, formerly at JPMorgan, who have turned their noses up at the job.
In the meantime, The Financial Times reports that Credit Suisse CEO Brady Dougan sees the next two years as a good opportunity for firms like his (with strong balance sheets) to get in on some acquisition action, as other firms have to divest assets to strengthen their capital positions.
And The Daily Telegraph reports that Royal Bank of Scotland is fighting to avoid 'significant' cutbacks over at its investment banking unit as the EU competition commissioner looks for largescale disposals as the penalty for the bank's continued use of UK state aid. CEO Stephen Hester, however, sees investment banking revenues as helping drive the bank to recovery, and the bank said Monday that it 'remains RBS's goal that any required divestments do not threaten its recovery plan'.
Finally, Bloomberg reports that Societe Generale is to beef up its Asia fixed-income unit next year, and that Japan's Mizuho Financial Group is to provide investment banking services to clients based in Saudi Arabia.
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