{"id":7875,"date":"2008-06-12T00:00:00","date_gmt":"2008-06-12T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"bank-of-america-sells-hedge-fund-unit-to-bnp-for-300-million","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/06\/2008\/bank-of-america-sells-hedge-fund-unit-to-bnp-for-300-million.html","title":{"rendered":"Bank of America Sells Hedge-Fund Unit to BNP for $300 Million"},"content":{"rendered":"<p>Bloomberg- Bank of America Corp. agreed to sell its prime brokerage unit that serves hedge funds to BNP Paribas SA, France&#8217;s biggest bank, for as much as $300 million after profit at its investment bank tumbled. <\/p>\n<p>BNP Paribas&#8217;s purchase price includes some goodwill, Todd Steinberg, head of equities and derivatives in Paris-based BNP Paribas&#8217; Americas unit, said in an e-mail. The division provides record-keeping, securities lending and secured financing to more than 500 hedge funds and has 320 employees, he said. <\/p>\n<p><a href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.bloomberg.com\/apps\/news?pid=20601103&#038;sid=aWTBpfhJq7_o&#038;refer=\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg- Bank of America Corp. agreed to sell its prime brokerage unit that serves hedge funds to BNP Paribas SA, France&#8217;s biggest bank, for as much as $300 million after profit at its investment bank tumbled. BNP Paribas&#8217;s purchase price [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[786,686,419,97,421,403,787,557],"class_list":["post-7875","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-bank-for-international-settlements","tag-civil-lawsuit","tag-default-status","tag-lengthy-prison-terms","tag-nutmeg","tag-public-offering","tag-starting-a-hedge-fund","tag-superiors"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7875","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=7875"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7875\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=7875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=7875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=7875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}