Bank of America Corp. global wealth and investment management will slow its focus on expanding its brokerage force and instead turn its attention toward investing in new technology and training novice brokers, the wire house's president, Sallie Krawcheck, said Tuesday.
Krawcheck, on a media conference call, said she wants to expand the brokerage force by bringing people on early in their careers and having them "grow up" at the firm, rather than hiring experienced advisers from other firms, a practice that exploded after the 2007-8 market dislocation.
