I can't say I am shocked. Sally Krawcheck has been forced out of Bank of America. It is barely two years ago that she was brought in to head global wealth and investment management at Bank of America, otherwise known as Merrill Lynch. InvestmentNews is reporting that she has been forced out.
InvestmentNews is reporting that it is a reorganization, but that sounds like a codeword for a sale. There was talk last week of a tracking stock, but that appears to be a bad idea that has been abandoned.
More to follow, but here is the original article -
http://www.investmentnews.com/article/20110906/FREE/110909973/-1/INBreakingNews01
