Advertisement
YOU ARE HERE: LAT HomeCollectionsKenneth D Lewis
IN THE NEWS

Kenneth D Lewis

FEATURED ARTICLES
BUSINESS
August 20, 2010 | Bloomberg News
Bank of America Corp.'s former chief executive, Kenneth D. Lewis, asked a judge to throw out the New York attorney general's lawsuit accusing him of fraud when he led the bank's purchase of Merrill Lynch & Co. The allegations by Atty. Gen. Andrew Cuomo are implausible, Lewis' lawyers said in documents filed Wednesday with the state Supreme Court in Manhattan. The Merrill Lynch acquisition, they said in the answer to Cuomo's complaint, has proved to be of "major financial benefit to shareholders.
ARTICLES BY DATE
BUSINESS
August 20, 2010 | Bloomberg News
Bank of America Corp.'s former chief executive, Kenneth D. Lewis, asked a judge to throw out the New York attorney general's lawsuit accusing him of fraud when he led the bank's purchase of Merrill Lynch & Co. The allegations by Atty. Gen. Andrew Cuomo are implausible, Lewis' lawyers said in documents filed Wednesday with the state Supreme Court in Manhattan. The Merrill Lynch acquisition, they said in the answer to Cuomo's complaint, has proved to be of "major financial benefit to shareholders.
Advertisement
BUSINESS
February 4, 2010 | By Nathaniel Popper
Bank of America Corp. and its former chief executive, Kenneth D. Lewis, were accused of fraud Thursday for allegedly failing to disclose huge losses at Merrill Lynch before the brokerage was acquired by the giant bank. The bank and Lewis misled not only its shareholders but also the government about the size of the losses at the height of the financial crisis, according to a lawsuit filed in New York state court by the state's attorney general, Andrew Cuomo. The purchase of Merrill Lynch has been a long legal headache for Bank of America.
BUSINESS
February 4, 2010 | By Nathaniel Popper
Bank of America Corp. and its former chief executive, Kenneth D. Lewis, were accused of fraud Thursday for allegedly failing to disclose huge losses at Merrill Lynch before the brokerage was acquired by the giant bank. The bank and Lewis misled not only its shareholders but also the government about the size of the losses at the height of the financial crisis, according to a lawsuit filed in New York state court by the state's attorney general, Andrew Cuomo. The purchase of Merrill Lynch has been a long legal headache for Bank of America.
BUSINESS
February 6, 2009 | E. Scott Reckard and Tiffany Hsu
A few months ago, mighty Bank of America Corp. and its chairman and chief executive, Kenneth D. Lewis, looked like the saviors of the financial system. Now the giant is foundering, and Lewis could be fighting to keep his job. The company's stock price has plunged 66% since Jan. 1 and slipped below $5 a share this week, hitting a 25-year low.
BUSINESS
December 17, 2009 | By E. Scott Reckard
Ending a tangled succession process, Bank of America Corp. named its retail banking chief, Brian Moynihan, on Wednesday to be its new chief executive. He will assume the CEO post Jan. 1, succeeding Kenneth D. Lewis, who came under fire for his decision last year to acquire weakened Wall Street giant Merrill Lynch & Co. in a deal that required the bank to accept one of the largest infusions of federal bailout funds. Moynihan, 50, was elected unanimously by the board of the Charlotte, N.C., company after directors spent months considering other internal candidates, notably Chief Risk Officer Gregory L. Curl, as well as star bankers from other institutions.
BUSINESS
September 16, 2008 | Michael A. Hiltzik and E. Scott Reckard, Times Staff Writers
A.P. Giannini is remembered as the revered founder of Bank of America, but the institution that snagged Merrill Lynch & Co. in a pressure-filled takeover last weekend is very much Hugh McColl's Bank of America. McColl was the boss of Charlotte, N.C.-based NationsBank Corp. in 1998 when it swallowed up Bank of America, then based in San Francisco. The hard-charging former Marine deftly outflanked BofA's more worldly management team to ensure that the bank would be based in Charlotte, that his directors would control the board and that his successor would be a NationsBank man. That successor, Kenneth D. Lewis, has gone beyond fulfilling McColl's dream of running the biggest bank in the country by creating what may become a global powerhouse of retail banking, brokerage and money management.
BUSINESS
January 28, 1999 | Bloomberg News
BankAmerica Corp. named Kenneth D. Lewis president, as the leadership of the old NationsBank consolidates power after its merger with BankAmerica last year. The title of president had been held by Hugh L. McColl Jr., the company's chairman and chief executive, since the resignation in October of David Coulter. Coulter, chairman of the old BankAmerica, quit less than a week after the bank surprised investors with a $372-million loss from a loan to a hedge fund.
BUSINESS
October 1, 2009 | Walter Hamilton and E. Scott Reckard
Kenneth D. Lewis, who became a focus of public and political outrage while presiding over Bank of America Corp.'s stunning fall from grace in the financial crisis, is stepping down as chief executive at the end of the year. Lewis, who had helped build the company into the nation's largest bank, faced widening criticism in particular for the company's acquisition of faltering giant Wall Street brokerage Merrill Lynch & Co. He joins a line of once widely admired CEOs who quit or lost their jobs in the wake of huge losses stemming from the mortgage meltdown, including the heads of Citigroup, Bear Stearns, Lehman Bros.
BUSINESS
April 16, 2009 | E. Scott Reckard
Bruised by a year of financial catastrophe, some bank shareholders are out for revenge as the corporate annual meeting season approaches -- with Bank of America Corp. Chairman and Chief Executive Kenneth D. Lewis a prominent target. His critics, who are calling on shareholders to vote him off the company's board at its annual meeting April 29, cite the bank's moves last year to acquire two struggling firms, mortgage giant Countrywide Financial Corp. and brokerage powerhouse Merrill Lynch & Co.
BUSINESS
December 17, 2009 | By E. Scott Reckard
Ending a tangled succession process, Bank of America Corp. named its retail banking chief, Brian Moynihan, on Wednesday to be its new chief executive. He will assume the CEO post Jan. 1, succeeding Kenneth D. Lewis, who came under fire for his decision last year to acquire weakened Wall Street giant Merrill Lynch & Co. in a deal that required the bank to accept one of the largest infusions of federal bailout funds. Moynihan, 50, was elected unanimously by the board of the Charlotte, N.C., company after directors spent months considering other internal candidates, notably Chief Risk Officer Gregory L. Curl, as well as star bankers from other institutions.
BUSINESS
October 1, 2009 | Walter Hamilton and E. Scott Reckard
Kenneth D. Lewis, who became a focus of public and political outrage while presiding over Bank of America Corp.'s stunning fall from grace in the financial crisis, is stepping down as chief executive at the end of the year. Lewis, who had helped build the company into the nation's largest bank, faced widening criticism in particular for the company's acquisition of faltering giant Wall Street brokerage Merrill Lynch & Co. He joins a line of once widely admired CEOs who quit or lost their jobs in the wake of huge losses stemming from the mortgage meltdown, including the heads of Citigroup, Bear Stearns, Lehman Bros.
BUSINESS
April 16, 2009 | E. Scott Reckard
Bruised by a year of financial catastrophe, some bank shareholders are out for revenge as the corporate annual meeting season approaches -- with Bank of America Corp. Chairman and Chief Executive Kenneth D. Lewis a prominent target. His critics, who are calling on shareholders to vote him off the company's board at its annual meeting April 29, cite the bank's moves last year to acquire two struggling firms, mortgage giant Countrywide Financial Corp. and brokerage powerhouse Merrill Lynch & Co.
BUSINESS
February 6, 2009 | E. Scott Reckard and Tiffany Hsu
A few months ago, mighty Bank of America Corp. and its chairman and chief executive, Kenneth D. Lewis, looked like the saviors of the financial system. Now the giant is foundering, and Lewis could be fighting to keep his job. The company's stock price has plunged 66% since Jan. 1 and slipped below $5 a share this week, hitting a 25-year low.
BUSINESS
September 16, 2008 | Michael A. Hiltzik and E. Scott Reckard, Times Staff Writers
A.P. Giannini is remembered as the revered founder of Bank of America, but the institution that snagged Merrill Lynch & Co. in a pressure-filled takeover last weekend is very much Hugh McColl's Bank of America. McColl was the boss of Charlotte, N.C.-based NationsBank Corp. in 1998 when it swallowed up Bank of America, then based in San Francisco. The hard-charging former Marine deftly outflanked BofA's more worldly management team to ensure that the bank would be based in Charlotte, that his directors would control the board and that his successor would be a NationsBank man. That successor, Kenneth D. Lewis, has gone beyond fulfilling McColl's dream of running the biggest bank in the country by creating what may become a global powerhouse of retail banking, brokerage and money management.
BUSINESS
January 28, 1999 | Bloomberg News
BankAmerica Corp. named Kenneth D. Lewis president, as the leadership of the old NationsBank consolidates power after its merger with BankAmerica last year. The title of president had been held by Hugh L. McColl Jr., the company's chairman and chief executive, since the resignation in October of David Coulter. Coulter, chairman of the old BankAmerica, quit less than a week after the bank surprised investors with a $372-million loss from a loan to a hedge fund.
BUSINESS
October 2, 2009 | Times Wire Reports
Bank of America Corp.'s board plans to form a nominating committee to seek a replacement for Chief Executive Kenneth D. Lewis, who is stepping down, a company spokesman said. The board may name a short-term CEO or consider six internal candidates, bank spokesman Robert Stickler said. Those candidates include wealth-management head Sallie Krawcheck and Chief Risk Officer Gregory Curl.
Los Angeles Times Articles
|