On the move
Expecting a near $3 billion loss for Q2, chief financial officer Erin Callan has been shifted from her office to a senior management role in its investment banking division. She had only been in the job less than a year and will be replaced by Ian Lowitt, who will retain the job of co-chief administrative officer.
The companys president and chief operating officer, Joseph Gregory, will also step down but will remain at the bank in an undisclosed capacity.
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The Bottom Line:If Mr Cable has his way...
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