McCann free to return to work in financial service

or Register to post new content in the forum

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Oct 1, 2009 2:19 pm

NEW YORK, Oct 1 (Reuters) - Bank of America Corp and former Merrill Lynch & Co brokerage chief Robert McCann have resolved a dispute over his contract, freeing him to take another job in financial services. <?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />


The settlement was announced by the two sides on Thursday. A joint statement gave no details, but McCann's lawyer, Steven Eckhaus, said his client was free to return to work at the end of the month.


McCann left Merrill Lynch after the investment bank was acquired by Bank of America on Jan. 1. In a lawsuit in August, he accused the bank of blocking him from taking another job in financial services before January 2010. He contended he should have been free to go back to work in July.


He sought to lift a "non-competition" clause in his contract so he could take a job with a Bank of America rival. Published reports said the rival was Swiss bank UBS AG . UBS declined to comment on Thursday.


Representatives of Bank of America, the No. 1 U.S. bank, declined comment on the settlement.


Justice Melvin Schweitzer of the New York State Court of Claims reserved judgment on McCann's lawsuit after hearing arguments from lawyers and testimony from McCann on Sept. 16. "This is a very close call," the judge said at the hearing.

Oct 1, 2009 8:54 pm

all quiet...weird.........

Oct 1, 2009 11:41 pm

  WOWSA!!  It's really true that what goes around comes around.  I hope Marten gets an appropriate security guard escort to the elevator.  This is no BS I have seen loyal almost lifers in  with the firm led to the down button in tears with no warning by rent-a-cops. True Marty will still leave with millions but he cannot buy back the humility of being FIRED!!! 

Oct 2, 2009 10:27 am
UBScrewed:

  WOWSA!!  It's really true that what goes around comes around.  I hope Marten gets an appropriate security guard escort to the elevator.  This is no BS I have seen loyal almost lifers in  with the firm led to the down button in tears with no warning by rent-a-cops. True Marty will still leave with millions but he cannot buy back the humility of being FIRED!!! 

 
yep
 
d***haed loser
Oct 2, 2009 4:40 pm

Marten is about to have a "pre-dawn moment" like he never has had before.  I about puked when he started one of his edicts to the troops that he had a "pre-dawn" moment. " I thought he had sh*t his pants.  I don't think Ozzie likes him and Mr. McCann is about to give Marten a special kind of "pre-dawn moment."

Oct 2, 2009 7:17 pm

Yep and there wil be no "love on the elevator"

Oct 3, 2009 8:30 am

but is this a bad team hoping a new quarterback can come in and fix things?

If they continue the merrillization of a firm not ready for it, going to be real interesting times.