Bank of America (BAC) CEO Moynihan reportedly stepped up for his current (and future) brokers,...

|About: Bank of America Corporation (BAC)|By:, SA News Editor

Bank of America (BAC) CEO Moynihan reportedly stepped up for his current (and future) brokers, killing John Thiel's plan to slash by 200 bps the so-called grid payout for Merrill's wealth managers. The move - had it gone through - would have been a "deal-killer" according to the head of an executive search firm.