Bank of America (NYSE:BAC) taps Christian Meissner to be the sole leader of its global investment banking. This comes less than a year after Meissner was promoted. He and two other executives were to co-head the unit. The bank is shaking up its investment banking after a rough fourth quarter. Unit fees declined 35%.

Don’t Miss: Executive Movements in Worldwide Banking.

Citigroup (NYSE:C) chairman Richard Parsons is contemplating resignation, sources say. After just three years on the job, it may be a bullish sign for Citi’s progress and health. Parsons, who helped lead the company through the financial crisis, has said in the past he would stay until the company is on solid ground. A decision is expected by early March.

Deutsche Bank (NYSE:DB) allowed hedge fund Paulson & Co. to select mortgage-backed securities and then bet against the securities without telling other investors. The Securities Exchange Commission is reportedly investigating this Collateralized Debt Obligation transaction. Goldman Sachs (NYSE:GS) also settled a similar suit with the Securities Exchange Commission for $500 million.

Don’t Miss: Banks Lobby to Protect Overseas Swaps from Dodd-Frank.

Goldman Sachs (NYSE:GS) raised Citigroup (NYSE:C) to Buy from Neutral. Goldman Sachs also downgraded Bank of America (NYSE:BAC) to Neutral from Buy, believing it will be difficult for BAC to boost earnings power over the next 12-18 months, while also trying to cut its costs. The firm also hiked Morgan Stanley (NYSE:MS) to its Conviction Buy list and removed JPMorgan Chase (NYSE:JPM).

Deutsche Boerse (DBOEY.PK) and NYSE Euronext (NYSE:NYX) are hopeful their merger will go through with help from European Union financial regulator Michel Barnier. Not only hopeful that Barnier will go to bat for them, but the exchanges also hope Angela Merkel will lobby for the deal at the European Union meeting today.

Don’t Miss: U.S. Investment Banks Overexposed to Possible European Defaults?

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To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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