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FBN’s Charlie Gasparino on the factors leading to the firing of Bank of America’s Global Wealth and Investment Management president.
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Executive to be pushed out the door this week.
You heard it hear first from Charlie Gasparino the most powerful woman on Wall Street fired yesterday.
From Bank of America -- cross check was removed as head of wealth management from the nation's biggest bank.
Lots of rumors as to why Charlie Gasparino has the exclusive details on the shake up you've got this story.
First could be as simple as just not getting along that she didn't first time she's been pushed out well.
I mean.
You've got to understand her dynamic for Brian morning and -- -- has been some that's been rumored.
Since at least when I first got the Fox Business back in February 2010 that -- project was on the outs of Brian -- and that she was gonna leave imminently obviously -- didn't -- imminently.
There was no -- this and He couldn't just throw or out at that point but it came a point now where He believed she was in the team player.
And that that was what the bottom line was at this -- morning and CEOs.
Of B of a sources tell the (%expletive) does that work and this is sources inside the firm.
Just to not like Sallie -- -- Kind of interest in string of developments in April remember -- -- check.
Lot of people they know -- she got removed from the board of BlackRock the big money management -- -- which has.
A relationship with Bank of America right they -- -- -- cast the bright morning and removed Sally cross check from the board of BankAmerica.
-- -- -- -- -- -- Tom Montag was now been moved up to the food chain.
At Bank of America so that foreshadow that that she was leaving and this is obviously the decision I will say this I did a pretty.
Negative story and bright morning in about two weeks ago broad if it up in post but I came out here and talk about it.
People inside Bank of America but Celek -- -- -- into that story.
And that to me should've been the sort of accepted to sort of calling card and did she.
No no I came up with that all my all my -- -- I will say this not only that I didn't talk to her about it.
-- that I criticism because I'm I know Celek project and and -- very smart very capable.
They put her on the cover I can't remember was it Fords are fortune the list I was last -- -- -- was it.
Bernstein yet.
It's almost like people got so she jealous of her now I think I think the problem at Sally is this is and I personally like her.
Bob I've been very critical something she's okay the careful when Charlie says I personally like if somebody and then you just know why I think this was and I don't.
She was a very she wasn't effective CFO when she worked at -- members say well broader and basically to help show that they had a lot of integrity at the bank when -- in the middle -- sketch wasn't very good then.
She came to BAC she was a very good brokerage chief but here's the bottom line.
She didn't get along with anybody.
And that and by the way we have a we have a matters not get along.
I will tell you this analysts say that BAC faces.
Fifty billion dollars in losses tied to countrywide tax liability from that those but those mortgages that are sold to investors.
They can put them back when you have a problem like that and then you had disunity.
On the upper ranks of a firm.
You get caught.
And that's what happened right you know people have to get along and some people to say women are held to a totally different standard I don't -- I I don't believe that here I think Sally is really good -- But I don't think she was it like it's -- along with the boss aren't gonna get along was to leave.
I've done an object.
I'm shocked.
Got up a Charlie got.
