bank of america corp (BAC) Key Developments
Bank of America Merrill Lynch Names Jane Navarria as Head for Business Banking Unit
Jul 3 15
Jane Navarria has been named as the business banking market executive for Bank of America Merrill Lynch. She will be responsible for Northern Virginia, as well as well as Frederick, Montgomery and Prince George's counties. She brings close to 30 years of experience to the bank. Navarria will lead a team of business banking client relationship managers to deliver strategic financial advice and solutions to help small and mid-sized companies grow, improve cash flows and invest for the future.
Bank of America Corporation Announces Quarterly Cash Dividend on the 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L and 6.50% Non-Cumulative Preferred Stock, Series Y Payable on July 30, 2015 and July 27, 2015 Respectively
Jun 19 15
Bank of America Corporation announced the Board of Directors authorized a regular quarterly cash dividend of $18.125 per share on the 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L. The dividend is payable on July 30, 2015 to shareholders of record as of July 1, 2015. The board also authorized a regular quarterly cash dividend of $0.40625 per depositary share on the 6.50% Non-Cumulative Preferred Stock, Series Y. The dividend is payable on July 27, 2015 to shareholders of record as of July 1, 2015.
Abraaj Reportedly Eyes IPO
Jun 18 15
The Abraaj Group is planning for initial public offering. Abraaj is working with Bank of America Corporation (NYSE:BAC)., The Goldman Sachs Group, Inc. (NYSE:GS) and JPMorgan Chase & Co. (NYSE:JPM) as it plans an IPO of its stake in a credit-card processing business, people with knowledge of the matter said this month. Centurion Investment also hired banks to sell shares in CosmeSurge and Emirates Hospital Group, people said in May.
Royal Bank of Scotland Group Appoints Bank of America as Corporate Broker
Jun 12 15
Royal Bank of Scotland Group announced that it is set to appoint Bank of America as its new corporate broker.
Bank of America Seeks Acquisitions
Jun 11 15
Bank of America Corporation (NYSE:BAC) is looking for acquisitions. Bank of America has announced a Fixed-Income Offering. It will use the net proceeds from the sale of the securities for general corporate purposes. General corporate purposes include, but are not limited to working capital needs, the funding of investments in, or extensions of credit to subsidiaries, possible reductions, redemptions, or repurchases of outstanding indebtedness, possible repayments on outstanding indebtedness, the possible acquisitions of, or investments in, other financial institutions or other businesses; and other uses in the ordinary course of conducting business.