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CIT Group Inc has hired former Merrill Lynch CEO John Thain as its new chief executive, the commercial lender said late on Sunday, wagering that the well-traveled executive can guide its post-bankruptcy turnaround.

Wells Fargo & Co's brokerage expects to add more than 1,400 financial advisers this year through a combination of poaching from rivals and training rookie brokers.

New York's attorney general charged Bank of America Corp , former Chief Executive Kenneth Lewis and former Chief Financial Officer Joe Price with fraud for allegedly misleading shareholders about the acquisition of Merrill Lynch & Co.

New York's attorney general charged Bank of America Corp , former Chief Executive Kenneth Lewis and former Chief Financial Officer Joe Price with fraud for allegedly misleading shareholders about the bank's acquisition of Merrill Lynch & Co.

Bank of America has embarked on a major hiring spree across Asia, aiming to expand in the fast growing region and revive the investment banking franchise that Merrill Lynch built before the financial crisis.

Investors should consider stepping into equities linked to countries that are the first to raise interest rates, Bank of America Merrill Lynch's chief global equity strategist said on Wednesday.

Bank of America Corp has approved more than $4 billion in 2009 pay for its investment bankers and traders, according to the Wall Street Journal.

The second of two U.S. Securities and Exchange Commission lawsuits against Bank of America Corp over the Merrill Lynch & Co takeover may be ready for trial as soon as this summer, with a trial on the first lawsuit set to begin on March 1.

Bank of America Corp's new chief executive, Brian Moynihan, will receive a base salary of $950,000 this year, according to a source familiar with his employment agreement.

Tech stocks dropped in morning trading on Thursday as financials struggled to keep gains, S&P 500 edges down.

Bank of America Chief Executive Brian Moynihan will be paid $950,000 a year for his new job, the Wall Street Journal reported on Wednesday.

Bank of America has dropped plans to exit Merrill Lynch's Asia property funds business and will instead help it raise new money, cashing in on a recovery in the real estate sector, sources said.

Markit, a data provider and index administrator, said private equity firm General Atlantic had agreed to take a minority stake in the company.

Trust in business worldwide rebounded modestly last year, after plummeting in the face of a severe recession, but informed adults believe companies will revert to their old ways as memory of the downturn fades.

Charles Schwab Corp added a record number of wealth adviser teams as clients last year, benefiting from a wave of breakaway brokers leaving traditional firms to launch their own shops.

Shares of several major U.S. financial institutions fell on Friday along with the broader market a day after President Barack Obama's proposals to further restrict banking activity.

Three major regional banks said loan problems buffeted fourth-quarter results but may be coming under control after two hard years.

Three big Midwestern banks posted better-than-expected results on Thursday, signaling the credit picture may be improving for banks in one of the U.S. regions hardest hit by the extended recession.

U.S. stocks dropped on Thursday as President Barack Obama took a tough stance on financial institutions, proposing rules to make the system safer by preventing the biggest banks from taking excessive risks.

U.S. stocks dropped on Thursday as President Barack Obama took a tough stance on financial institutions, proposing rules to make the system safer by preventing the biggest banks from taking excessive risks.

President Barack Obama proposed stricter limits on financial institutions' risk-taking on Thursday in a new populist-tinged move that sent bank shares tumbling and aimed to shore up the president's political base.

Goldman Sachs Group Inc , which had been on track to pay employees a near-record amount, instead set aside nothing for compensation in the fourth quarter and gave $500 million to charity.

Goldman Sachs Group Inc , which had been on track to pay employees a near-record amount, instead set aside nothing for compensation in the fourth quarter and gave $500 million to charity.

Fifth Third Bancorp reported a much smaller fourth-quarter loss on Thursday after it recorded fewer writedowns on mortgages and other loans.

U.S. retail brokerages posted mixed fourth-quarter profits as higher merger and recruiting expenses offset growing management fees and a market-fueled increase in client assets.

In a sign that the U.S. banking sector's problems are far from over, lenders including Bank of America Corp reported falling bond trading revenue and mortgage lending weakness in the fourth quarter.

The Dow Jones Industrial Average dropped 122.43 points on Wednesday, losing 1.14 percent to close at 10,603 on fears that the Asian led economic recovery may stall because of government tightening.

Wells Fargo & Co and U.S. Bancorp reported better-than-forecast quarterly earnings, helped by recent acquisitions, while larger rival Bank of America Corp got a boost from Merrill Lynch.

Wall Street suffered its worst slide of 2010 on Wednesday as investors worried that lending restrictions in China could hurt the global economic recovery, while a conservative outlook from IBM dented recent optimism about the technology sector.