Common Connections May Factor Into Merger Buzz Between Bank of America and Citi
Could two rival financial giants be heading toward a merger? Though Bank of America denies making any official offers, the Wall Street Journal claims that Citigroup received and quickly rejected the suggestion of a merger between the two, which supposedly was introduced by a “prominent investment banker” (see article by Robin Sidel, Karen Richardsen and David Enrich). While a merger could be good at this point in helping Citi strengthen its leadership team, the large size of the banks could make such a deal extremely complicated.
Despite the complexities, NewsVisual created an IntellectSpace Knowledge Map of the common connections between Bank of America and Citigroup to discover what relationships could be significant in motivating a merger. (Note: the information contained and presented in Knowledge Maps is public information from the Securities and Exchange Commission of the United States of America).
As illustrated in this Knowledge Map, a number of prominent current and former Directors and Executives at either bank are likely well acquainted. Patricia E Mitchell (Director at Bank of America) and Richard D Parsons (Director at Citi) may have a notable relationship, as Mitchell was previously a Director and Division President at Time Warner, where Parsons is currently the Chairman/CEO. Former Bank of America Director Solomon D Trujillo has strong ties to Citi Director Anne M Mulcahy through Target, where they both currently serve as Directors.
Other sets of relationships link Bank of America to a number of former Citi Senior Executives. Walter E Massey (Director at Bank of America) and Charles K Gallagher (CFO of Viewpointe Archive Services, a joint venture between corporate entities that include Bank of America) are shown to have notable ties to former senior Citi Executives, including past President James Dimon and former Vice Chairman Robert I Lipp. The companies even share a direct connection through Richard P Spencer, who previously served as an Executive at either bank.
If Bank of America and Citi eventually experience a change of heart regarding a partnership, the two certainly aren’t at a loss of common connections to help promote a deal.
Click here or copy this link into your Internet Explorer browser for an interactive version of this IntellectSpace Knowledge Map: http://nv.intellectspace.com
Comments