Usa Banks List

Bank of America arises out of the fund manager Blackrock

Us banks list / Friday, August 20, 2010

Bank of America raises join their participation in the fund manager Blackrock to the list of assets that are not part of its core business and are on sale. The bank, headed by Brian Moynihan, wants to focus on its business in retail, asset management and markets. Five-day New York.

The U.S. organization has refused to comment on news on the sale of 34% stake in the largest fund manager of the world, but various media, including The Wall Street Journal, have argued that Moynihan is considering removing this asset from their books. This participation would be valued between 9,000 and 10,000 million dollars.

Bank of America took a stake of 49.8%

The sector prepares the large disinvestment

U.S. banks are preparing to launch a major disinvestment in assets in compliance with the standards expected capital leaving the Basel process and the Act III Volcker, including the reform of financial regulation in the U.S. and largely limiting the investment banks can do. The launch of the new Basel capital rules III and regulation of the law Volcker is not close but the banks are trying to anticipate.

As reported recently on Fox, Goldman Sachs and is studying how and when to spin off its venture capital business cards and Morgan Stanley to do the same with FrontPoint Partners, a hedge fund that bought in 2006 and that in light of new legislation - once it is implemented by regulators, there can not be in balance.

With respect to Blackrock, the new legislation affects not only Bank of America, that with or without law Volcker would sell, but also to PNC, the other bank with a significant stake in the manager.

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