Bank of America Gets It Some Sharon Allen

Posted on August 23, 2012 by Caleb Newquist

Bank of America announced today that perpetually hydrated former Deloitte Chairwoman Sharon Allen will be joining their board of directors effectively immediately. This appointment by a prominent company naming a former Big 4 bigwig to their BoD follows announcements by J.P. Morgan and Walmart that ex-KPMG Chairman Tim Flynn would be joining their boards.

This is probably a good gig for Allen who retired from the Green Dot last year and on the surface, it looks pretty good for BofA, too. Presumably, the bank likes the idea of having the former head of governance for a firm that espouses integrity and whatnot because it allows Bank of America to procure, at least in part, the image of integrity and whatnot.

And as long as you can forget about the shoddy auditing, the insider trading, HSBC, and Standard Chartered (among other things that happened while Allen was the Chair at Deloitte) then yeah, it looks pretty good.

[Reuters]

Deloitte

Bonus Watch ’11: Deloitte Gives Up PowerPoint Presentations After Stellar Going Concern Reporting UPDATE: Audit Practice Didn’t Get the Memo

Caleb Newquist
August 10, 2011

This just in from the Deloitte FAS comp call that is apparently going down circa now:

7% AIP pool. No slides with details b/c it ends up on GC. Talking about PwC right now.

What, exactly, is being said about P. Dubs is not immediately known but I’m guessing it has something to do with the fact that they’re obviously vulnerable in the Tampa market but actually it’s more like simple trash talk, according to our source:

[PwC] made draconian cuts during the recession. They are making up for it now. They suck, D&T rules. [FAS CEO] David Williams is stressing total comp., not just base salary throughout the call. Base comp is targeted at 50% of the comp survey range.

[PS -] He loves to use the word “granular” as much as possible.

Unrelated sidenote: David Williams’ favorite hobby, according to his firm profile, is yoga.

Of course you’re on the call and have other details you wish to share, you can elaborate below.

Earlier:
Comp Watch ‘11: Deloitte’s New Structure Is Taking Shape

UPDATE:
A little comparison for AIP and merit increases for the opiners appears on the following pages.