Antony Currie has more than a decade of experience as a financial journalist, having worked with Euromoney since 1996, most recently as a U.S. editor. He has worked on assignments in the major financial centres of Europe and the US and written stories on capital markets, global economies and the investment banking industry. He holds a bachelor's degree in German language and literature and a master's degree in politics and international relations from the University of Bristol.
The bank bought the Thundering Herd in a hurry in the depths of the 2008 crisis. Merrill’s retail brokerage has worked out well. But the M&A and equity franchises have faded under the BofA brand. The unit’s new boss, Matthew Koder, would need something special to change that.
The confectioner’s $1 bln investment in the key ingredient’s “broken” supply chain benefits all from forests to farmers. As a way of getting better supplies and reassuring customers, it benefits Mars too. Other companies should feast on this kind of sustainability strategy.
Many of the bank investments and takeovers inked as markets cratered a decade ago brought at least as much pain as progress to the instigators. Think JPMorgan buying Bear and WaMu. Breakingviews looks back at some of the flops – and a couple of high-flyers.