Date for next big layoffs at BAML is shaping up to be Jul 19/20th. Brexit simply hastens the ineptly named "Bowditch" project - separating GWIM from Global Markets - which seems driven by the desire to sell or shutter Global Markets within a year or two.
2 replies (most recent on top)
Exactly gbam's will to live is being stiffled by the Democrat creation of Dodd-Frank! The deficiencies of this legislation will cause it to be a liability instead of a profit center.
The firm needs to separate gwim brokerage from gbam due to living will deficiencies not because the firm wants to get rid of gbam.