UNREAL! BofA Freezes Gun Manufacturer’s Deposits Saying: “We Believe You Should Not Be Selling Guns On The Internet”

American Spirit Arms

On December 29, 2011, Joseph P Sirochman, the owner of American Spirit Arms posted this on Facebook, via Ironic Surrealism.

My name is Joe Sirochman owner of American Spirit Arms and I wanted to share my recent experience with Bank of America .(which we have been doing business with for over 10 years)…. Everyone is familiar with the latest increase in guns sales , dealers selling out of inventory , Manufacturers back logged for months , large revenue all generated in the last two weeks …. American Spirit Arms is no exception to the overwhelming demand . What we have experienced is that our web site orders have jumped 500 % causing our web site E commerce processing larger Deposits to BANK OF AMERICA ..Well, this through up a huge RED Flag with Bank of America . So they decided to hold the deposits for further review , meaning that the orders/payments that were coming in through the web ,( being paid by the customer and that were shipped out by American Spirit Arms ),the BANK was keeping (UNDER REVIEW )..as you could imagine this made me furious…After countless hours on the phone with BANK OF AMERICA I finally got a Manager in the right department that told me the reason that the deposits were on hold for FURTHER REVIEW …HER EXACT WORDS WERE …


…I flipped the F**k Out and told them that they have no right to make up their own new rules and regs..that we are a firearms Manufacturer with all the proper licensing FFL (Federal Firearm license ), SOT and that we follow all Federal and All States’ rules and regulations on shipping Firearms and parts ..and that we are also Audited by ATF and Homeland
Security on a regular basis … She said that she understands that but that the deposits will be released After they have a chance to review and clear them …I told her that This was unacceptable and the those deposits (that were a week old by now ) needed to be released ASAP, that we are a small business and rely on the revenue to run and stay operational.

After that being said another Manager got involved and released one of the deposits (to help out )… So far to date after
Two weeks of sales only 1/3 of collected internet sales have been released ..I am still pissed and looking for another
Bank and options …
I just thought the public should know ..

I will keep everyone posted on new developments ..


Joseph P Sirochman
American Spirit Arms
16001 N Greenway Hayden Loop
Suite B
Scottsdale AZ 85260
480-367-9540 phone
480-367-9541 fax

Blogger Ironic Surrealism reached out to Joseph Sirochman and posted his response.

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  • Tenacious221

    29Dec2012, not 2011 🙂

  • Mikey

    Some high priced lawyer is going to have a field day with this. Assuming it’s all true.

  • Tricky Dick

    Anyone reading this who banks with Bank of America should close all accounts and bank eslewhere.

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  • andre

    Change banks immediately.

  • Lim Lynn

    What an interesting respond. Wait did I forget there was a strange mural showing puppet being manipulated in Bank of America connected with Shadow government who support psychiatric and gun control.

  • jony101

    I wonder if obama is involved. Didnt BOFA recieved some sort of bailout? if they did this could be there way of paying back obama.

  • man_in_tx

    Bank of America?

    Or, Bank of Obamerica?

  • Patty

    cheers for exposing them. Now it begins, fighting back and we will win.

  • FurryGuy

    #11 January 6, 2013 at 11:40 pm
    jony101 commented:

    I wonder if obama is involved. Didnt BOFA recieved some sort of bailout? if they did this could be there way of paying back obama.

    Only US$45B, US$25B from TARP in 2008 and an additional US$20B in 2009 (right after Barry was enaugurated) in emergency funds after taking over Merrill Lynch, with US$118B of government guarantees against bad assets. The additional bailout came with the US Treasury taking a stake in the bank.

    The US$45B in bailouts and US$118B in guarantees puts BofA as one of the most bailed-out financial institution of the fiscal crisis. WaMu (Washington Mutual) probably would have been larger if the government had decided to bail them out instead of screwing the investors, but then WaMu wasn’t on record of contributing to the 2008 Obama campaign as BofA is.

  • King

    Didn’t the firearm manufacturer MCMillan have problems with BOFA earlier this year? BOFA has a record of being anti-gun. The big banks aiding big government. Who would have thought.

  • Practical Jane

    BoA’s been showing their lefty/elitist bent for years. This is just the most aggregious example. We moved our mortgage and closed our accounts with them over a decade ago for their attitudes, corporate and personal.

  • Joel Lambert

    You are also almost required (if you choose not to, which I did, everything is reduced to paper checks and is a pain in the ass for everyone) to have a BofA credit card for TAD/government travel expenses while in certain jobs in the US Military. There was no other option of financial institution. They charge interest, and late fees to the soldiers, even as the government which is requiring the soldiers to apply for BofA credit cards is late in paying the soldier’s travel claims. I’ve hated BofA since this scam began in the late nineties and refuse to do business with them.

  • Carol-Christian Soldier

    no bank has the Constitutional prerogative to freeze assets of citizens of the US nor US companies–

    Thomas More Law would be a start!


  • Oliver

    OT: Great article on American Thinker:

    If Al-Qaeda is the enemy, why is the US Department of State recruiting and arming them? And if Al Qaeda is no longer the enemy, who exactly is Washington looking for with their warrantless wiretapping, metal detectors. bomb scanners, x-ray machines, warrantless physical searches and millions of scanning surveillance cameras?


  • Joel
  • Bart Roberts

    Bank of America’s top priority is to border jumpers from MEXICO. They provide cheap banking and no cost money transfers to Mexico. They fly the Mexican flag over many of their bank branches.

    Bartholomew Roberts

  • HippieKiller777

    BOA = KKK

  • whitestone

    This is how they will accomplish gun control… break the backs of the manufacturers and suppliers with regulatory harrassment with the willing assistance of their cronies. Who cares if a few more companies go down… all the better to collapse the economy.

  • Leslie Brillstein

    Today’s headlines:

    Father charged after unintentionally shooting and killing 8-year-old son

    Security guart unintentionally shoots friend during a game of “quick draw’


  • Brian

    Yes, you liberal douchebagger.

    And how many peopke killed yhemselves or got divorced

  • bear

    #24, les,

    Glad to see ya back….every thread needs its own troll.

    1. Add to your “list” the legally armed mother of twins who saved them and herself from an intruder near Atlanta the other day.

    2. Also add the over 900 killings last year in detroit/chicago by ILLEGALLY armed thugs. Please list them one at a time, so we can get a feel for how many gangstas are off the street.

    Two good arguments for more guns, not less.


  • Leslie Brillstein

    Unintentional divorce is pretty rare.

  • Bob

    You are off a year on the posting date, it was 2012

    Otherwise, what the heck did BOA think these guys did? They took the account and then held funds? Sounds like theft to me.

  • Terry Gain

    This outrage would be better dealt with if Sirochman hires a good lawyer and learns the difference between threw and through.

  • rabble-rouser


  • Lim Lynn

    You shouldn’t sell gun online and please educated more life taken Hammer and Clubs using than criminal using rifle crime rate.

  • shadow

    Change banks immediately.

    Yeah, no need to wait and see if this is true.

  • chris

    Like most narratives, the right is losing this one in a huge way. Best figure something out, and quick, if you intend on keeping your 2nd amendment right to bare arms. Personally I think they risk a (literally) bloody fight on this issue. The corporate/government apparatus in this country hope to take away your rights for their desired control. Things are getting quite scary in this country.

  • Spots the Dog

    This of course from the bank that just signed a $10 Billion settlement agreement over fraudulent mortgage loans through Fannie Mae and Freddie Mac.

    This is Bank of America in name but Nations Bank in fact, in my opinion, one of the worst bank cultures operating.

  • Mitch Rapp

    Obviously, the Harvard teachings have taken over B of A. Dump B of A, Baby!

  • AmericaWILL

    I hope the guy sues BofA for all he can. How many drug dealers, con artists, identity thieves, and other criminals do they do business with? Do they freeze those accts? But a legal business owner is subject to their whims.

  • King of Fruitless Hypotheticals

    If you didn’t record it, they never said it, and you’re just an unhinged gun nut. We all need to learn what recording laws are…

  • Tcircle

    #24 must have missed this headline, and many more like it:

    Mom shoots intruder, saves kids

    The woman was working in an upstairs office when she spotted a strange man outside a window, according to Walton County Sheriff Joe Chapman. He said she took her 9-year-old twins to a crawlspace before the man broke in using a crowbar.

    But the man eventually found the family.

    “The perpetrator opens that door. Of course, at that time he’s staring at her, her two children and a .38 revolver,” Chapman told Channel 2’s Kerry Kavanaugh.

    The woman then shot him five times, but he survived, Chapman said. He said the woman ran out of bullets but threatened to shoot the intruder if he moved.

    The intruder, 32-year-old Atlanta resident Paul Slate, had been out of jail for all of four months or so, one of six arrests since 2008.

  • MJ

    My Mom and Dad just went to CLOSE their account right now, ty for the info

  • mamagriz1968

    BofA has been a questionable institution for a long time. Long before my hubby and I were married, he had a girlfriend whose mother was a higher up at a BofA branch in FL. When he and said girlfriend were on the outs, suddenly he was getting overdrawn notices on his account, to the tune of several hundred dollars. He couldn’t get anywhere with the bank and finally closed the account. Don’t know if this story about the gun seller is true, but I’ll just say I wouldn’t be surprised if it was.

  • Highlander

    Leslie, it looks we have a much bigger problem with unintentional stupidity in American than we do with unintentional shootings. We have a bunch of gun-grabbing morons like you running around getting all worked up about the statistically miniscule number of accidental gun deaths, and ignoring the fact that firearms save far more innocent lives every year than they take. Leslie, firearms are our only defense against violent criminals and a tyrannical government, and our right to own and protect ourselves with them is a primary tenet of the US Constitution. People like you, who would gladly give up that right in the name of “safety” while ignoring the fact that you face a far greater risk of death from a myriad of other natural causes, are not only terminally stupid, you’re dangerous to the rest of us.

    While you’re busy attacking your fellow law-abiding citizens, the REAL problem continues to plague this society. Lawless, violent and mentally unstable human beings continue to roam our streets, taking lives, stealing our property, and corrupting our children. You are so obsessed with stripping decent, honest people of their second amendment rights that you can’t see the REAL problem, which has been staring us in the face for decades and continues to go unaddressed…

    Thanks for doing us a favor though Leslie. With your pathetic whining about accidental firearm-related deaths, you have reminded us, once again, that the REAL end game of gun grabbers is not the elimination of “assault weapons”, or “high capacity ammunition” or “large clips” or any other particular piece of hardware. Your real end game is the COMPLETE AND TOTAL ELIMINATION OF OUR RIGHT TO BEAR FIREARMS of ANY KIND, and I would urge anyone who is inclined to give ground on the gun control issue to think twice and pay very close attention to the words of subversives like Leslie.

    These people are playing for keeps and their intentions are CLEAR. If we have any hope of protecting our right to bear arms, we must do everything in our power to crush their every effort. These people, the people who would disarm us and leave us defenseless while ignoring the real threats we face are the true enemy, and the sooner we recognize that fact and take action to defeat them, the better chance we’ll have of keeping our Constitutional rights intact.

  • valerie

    Names of persons needed in the article. Who, exactly, did this?

  • valerie

    It’s called embezzlement and conversion. Aside from changing banks immediately, he can sue for all compensatory damages. This is grounds for punitive damages, too.

  • david

    well not that I agree with the comments made by the associate at Bofa, (being a large gun advocate myself) the real reason is most likely a Federal reason deposits that are out of ordinary or over or near the 5,000 mark require a SAR form this is a suspicious activity report and deposits at or near 10,000 require a CTR currency transaction report these are not new forms and have been around a long time its to prevent money laundry activity. If your deposits were out of normal and it sounds as if they were this is a function that would have happened at ANY bank, go ahead get a lawyer and a new bank the lawyer will tell you you have no case and if anything BofA will get a pat on the back from from the Feds saying you did the right thing. I do believe the one clerk you were talking with should be released because she is clearly putting the bank at risk by most likely speaking her own opinion and not that actual facts of the case. sorry but I understand the banking side and this is the case, PS I still hate BofA……….

  • You don’t need a high priced lawyer..any business lawyer who knows basic banking laws can clear this up in no time. Because of drug and terrorist money laundering, years ago banking laws required reporting deposits $10,000 or over to the FBI. Then a government agentecy could have the power to freeze the account. NOT the bank.
    The only “freeze” a bank can impose is on a “questionable or unknown” person of up to 10 days to give the check time to clear or be returned. If the funds clear before the 10 days the bank HAS to release them to you.
    They can slow you down with their 10 day rule, but they can not withhold your legally obtained funds just because they have decided they don’t like your business.
    So, go ahead and sue their a-ss off.

  • Chris

    So, when did this happen? The lead-in to the story on this website says this was back on 12/29/2011? Is this a typo?

  • Despiser

    Last I checked, unless youre the Govt, stealing others property is a CRIME.

  • joe

    BOA is the bank that Bass Pro Shops credit cards are issued through,,,,,,,,

    phukin hypocrites,,,,,,,,,BPS sells tons of guns you commie kocsukers,,,,,,,,

  • thegoldman

    Why do business with a bank that wants your money and your fingerprints ?

    If anything you should get their finger prints…

    It’s your money….

  • bear

    #44, david,

    You obviously DON’T understand the banking processes here. This was a BUSINESS account. Banks have policies and procedures, which an account holder must sign-off and accept, or no account. Do Walmart or GM, or EVERY 7-11, restaurant and bar depositing cash have to pass your “money-laundering” test? Moron.

    The federal and state bank examiners, plus the bofa auditors should be all over this abuse. I’m betting that more than one banking regulation has been violated.

    If my bank were caught pulling this stunt (purposely damaging a business by refusing to allow funds to clear) I would be calling my state delegation, my state attorney general and every bank regulating agency in sight.

  • Doug Wakeman

    I sent BofA my card cut up in pieces when they started issuing credit cards to illegals many years ago. I don’t understand why any partiots are still doing business with them.

  • shadow

    You obviously DON’T understand the banking processes here

    He seems spot-on to me.

    Federal reporting requirements that began with the Currency and Foreign Transactions Act of 1970 (also known as the Bank Secrecy Act) have been expanded by Congress over the last four decades to include a broad range of transactions involving significant sums of cash. Under current law, any person or business involved in a cash transaction of at least $2000 or a series of transactions involving a total of $5000 could be the subject of a report to federal authorities.

    Suspicious Activity Report (SAR)

    Any “face to face” transaction with a bank customer involving $2000 or more which appears related to money laundering or a violation of the reporting requirements under the Bank Secrecy Act must be reported through an SAR. Multiple transactions that appear related and total $5000 or more will also trigger the reporting requirement. Banks are prohibited from informing the customer that an SAR has been filed. Federal law protects reporting institutions from any civil liability related to the report. Businesses which only cash checks or money orders are not required to file an SAR, but may do so voluntarily.

    Cash Transaction Report (CTR)

    The Bank Secrecy Act requires that banks and MSBs report any cash transaction involving $10,000 or more, whether or not the transaction appears related to any crime.

    Read more: Rules About Large Cash Deposits | eHow.com http://www.ehow.com/list_6123439_rules-large-cash-deposits.html#ixzz2HJSn3btB

    On the other hand, since these were internet sales, I doubt they were “cash” transactions.

  • SouthTexas

    Haven’t done business with BofA since they started issuing credit cards to illegals.
    Sadly, this does not surprise me.

  • I’ve done this twice over the last 4 years and it has worked both times.

    I financed a new car dealer purchase with BofA because they accepted a super low APR% rate offer that I made to them to finance the purchase. I knew that once I got it that my credit union — who wouldn’t match or beat BofA’s APR% as we were going round and round initially — would meet or beat the APR% eventually. True to form they finally offered and beat it about 3 months later — by .2% in both instances.

    I dumped BofA faster than a nasty habit — both times — as soon as they did.

    BofA is desperate for customers. Outside of property and building/home purchases — they’ll finance practically anything for practically anyone right now. Low-ball the heck out of them and they’ll actually stay reasonably close if not just accepting the lowball offer. Just don’t try to get too greedy if you have less than nominal credit though. Once BofA bites — go to your bank/credit union and ask them to meet or beat BofA’s APR%. They might not at first but once you’re in their system as applying for the financing in competition with another lender they’ll eventually make you an offer that will meet or beat BofA’s if in their estimation your credit worthiness is merely nominal/average. Every financing application in pretty much every bank and credit union in America sends financing app’s up the chain of command for review whether they’re approved/accepted or not. Someone up the chain will order a counter-offer eventually so long as it’s an acceptable risk [ie: little more than simply having nominal credit].

    Use and abuse BofA to your benefit just like they use and abuse the entire country to theirs. BofA fell for this twice in just 4 years. It works right now with the competitiveness of the lending market at this time — and I bought two brand new cars with 1.01%APR and 1.03%APR while my FICO score is nothing better than average with no current black marks/strikes. Plus, with such a low APR% the savings far far exceeds any ‘rebate’ offers you might get in lieu thereof on a brand new car.

    Use, Abuse, and Screw BofA every chance you get.

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  • BofA treacherous. I got rid of them years ago. They’re the worst of the worst.

  • OldSailor

    BofA’s policies drove my wife and I to stop doing business in any form with any part of BofA.

    I recommend everyone take a close look at their financials and move away from this unscrupulous business.

  • jeff talbut
  • #24 Leslie Brillstein: Why no mention of the 37 year old mother of 9 year old twins that recently used a gun to protect herself and children from a home invasion in Georgia? Stories like this happen every day but it doesn’t fit your agenda does it? Go peddle your one-sided BS elsewhere. Your words will convince no one commenting here.

  • Mark Warren

    I dont use them and will never

  • JoyO

    Everyone with a Bank of America account should go to their closest bank today and close their account.

  • Treason, Thy Name is Obama!..

    How much plainer does it need to be.

  • BofA doesn’t respect any of its depositors. I ditched them years ago for screwing around with my deposits. I set up a savings account as an overdraft for my checking, not wanting to go into hock with one of those lines of credit banks will set up. Lo and behold, BofA began dumping the money into the checking, $100 at a time, without telling me, and without my actually being overdrawn (just really low at the end of the month). Then they hit me with fees for the savings balance being “too low.” I protested, and emptied and closed the savings account.

    They replied by doing the same with a line of credit – shoveling money into my checking without my knowledge and without cause – and then charged me 16% APR for the balance on a “loan” I never took out, along with fees for being “overdrawn.” Cancelled everything at that point. I was still out a few hundred bucks plus, but no more.

    This latest news doesn’t surprise me at all. He who is untrustworthy in small affairs will prove untrustworthy in large ones. BofA can go under tomorrow for all I care, and good riddance to them.

  • Bill Okama

    SCREW B of A, and immediately switch to US Bank- they are loyalists, and pull no bullsh*t.

    Want to stop tyranny in its tracks? REFUSE TO PAY TAXES, EVER AGAIN.
    No money= no fed paychecks.
    No paychecks= no fed labor, resources, abilities.
    No fed employees= NO MORE TYRANNY.

  • Speedy

    Don’t bank with BOA. They hold your deposit as long as they please. Someone had the same name but different SS# from mine owed them $ caused them to hold my $ for investigation. When you question them they can’t answer and push you around from phone to phone. Finally I demanded to speak to the manager and got my $. But I swear that I will never do business with BOA again.

  • Jim

    At our website you’ll find that for months we’ve had a bold statement and image stating that we will accept no Bank of America credit or debit cards due to previous acts that indicate they are anti-gun.

  • Deborah Leigh

    Some friends of mine got a loan modification at B of A in October. The interest rate is 8%! Why they signed the papers is a mystery to me. They were told they could refinance in 6 months. I told then the going rate is 3.25 – 4%. Apparently they were held to the rate that was paid when the house was first purchased in 1998.

  • Whitehall

    “Some men rob you with a six gun, some with a fountain pen….”

    – Bob Dylan “John Wesley Harding”

    We need to remember that we’re facing a CIVIL war. It is more than free citizens against the government, but some free citizens agains other citizens who would not be free.

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  • anti-bho

    Good a time as any to pay any balances due and shred any Visa, BankAmericard, or American Express card you might hold.

  • Militant Conservative

    For those that don’t have a clue.

    ANY sale of a firearm MUST be delivered to a brick and mortar gun dealer near the

    purchaser. The purchaser cannot take possession till they are cleared via NICS

    (national instant check system) AND a local background check to descover any

    local felonys.

    This is another red herring for you unenlightened morons to GIVE your freedom away.

    It’s what democrats do, that and raise taxes on everyone but say its the rich.

  • littlemike

    On December 29, 2011 Joe Sirochman posted his tale of woe. In the period of just over a year nothing further has come out about this? Hmmmmmm……

  • 1stFreeMatt

    Engaging the services of a competent attorney could result in your OWNING a significant chunk of Bank of America (along with sending a few BofA employees to jail).

    Banks are among the most highly regulated industries in America, and NOTHING allows banks to differential application of the laws and regulations to customers in good standing.

    Bottom Line: sue the pants off the bastards.

  • I use mid-west federal credit union…………banks are out for profit, credit unions are no-profit

    never been treated bad by a credit union

  • stephen

    Law suit my ass, it’s time to light that bank on fire. it’s time for this crap to end. frankly i cant believe that anyone in the firearm industry would still be banking with BofA, i repair banking equipment and i wont work on anything owned by the SOB’s.

  • geowalsh

    I agree with those who say change banks ASAP. If you can afford to do so, sue. You also need to get in touch with the NRA and other like minded organizations and get the word out.

  • Patty
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  • Highlander

    Shadow, there is nothing SUSPICIOUS about a surge in firearm sales following a flurry of calls to ban firearms. My local gun store has been packed to the gills for weeks now. BOA has no right to place a hold on this company’s funds whatsoever, and I predict that when the attorneys get done with them, they will be regretting doing so….

  • MJ

    Its late in the game, this happened in 2011, Still, looks like they are leftists, I know they give ILLEGALS debit/credit cards with NO necessary ID.
    Still, we took our $$ out, I mean my family.

    BUT, B OF A has some nerve:

    Mexican Drug Cartel Laundered Money Through BofA, FBI Alleges
    07/09/2012 2:51 pm



  • MJ
  • jay Presser

    Maybe time to pay my BOA mortgage in coins o tie up their hourly payroll…

  • APB

    You’re doing biz with a bank? No less a bank that took taxpayer money to stay afloat due to its reckless business practices?

    While I agree with the premise of the story, you get what you deserve there.

    That’s why credit unions were invented. They know what deposits are.

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  • Beausoleil

    The Federal Reserve is now hiring it’s own army…

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  • shadow

    i repair banking equipment and i wont work on anything owned by the SOB’s.

    Boy, that will show them.

  • shadow

    BOA has no right to place a hold on this company’s funds whatsoever, and I predict that when the attorneys get done with them, they will be regretting doing so….

    Care to attach a time frame to this prediction?

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  • There has been something about BS of A that has always bothered me. Plus they handle EDD transactions also; think they might be scrutinizing the accounts of others? Don’t give “em a dime!

  • Observer

    Bank of America has been a scum organization ever since the founding Gianini family separated from the ownership a few decades ago. Fifteen years ago because Bof A was the only bank convenient to our house we held accounts with them. The final straw came when my then computer savvy fifteen year old son did networking, setting up, and solving computer problems for friends,work associates, the neighborhood Catholic school, neighbors & those who heard about his expertise by word of mouth. He usually netted many hundreds dollars a month kept in his room before making a weekly deposit to his account. Because I did not want hundreds of dollars laying around the as his earning grew quickly I insisted he make regular deposits.
    One day when I drove him to the bank he CAME OUT STEAMING MAD AFTER HE was told by Bof A staff that if he made more than 2 deposits a month they would charge him a $10 fee per deposit. When he told me of the B of A caper I literally leaped out of the car and stormed the operations officer’s desk and closed my three large accounts. As a parting insult they announced I had to pay charges for the cashiers checks for my balances to which I responded start counting out the cash for those substantial withdrawals as well as for the balance of my son’s several thousand dollars held in his savings account for college.
    Since my cash withdrawals would be beyond their loose cash amounts B of A waived the cashiers check fees but my son for sweet revenge decided he wanted his balance in cash.

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  • That’s just unbelievable! How dare they? I think American Spirit Arms has a lawsuit, and I’d be changing banks really fast. Institutions which impose their liberal bias on clients is just wrong.

    My daughter was a freshman in college during the 2008 presidential election. As the only conservative in the school (practically), she took a lot of abuse, not just from the other students, but from the professors! She left the school because of this push to make everyone think like they do.

  • mjjmusic

    Goodbye BOA. Everybody do this, and we will shock em.

  • TMJ
  • Courtesy of the NRA/ILA: The big list of organizations and individuals who are trying to take away our gun rights. Let them know what you think!

    If they don’t listen, and most of them won’t, then vote with your dollars and with your feet.

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  • Aaron

    this through up a huge RED Flag with Bank of America

    wow, a right gun fetishist that doesn’t know the difference between “through” and “threw”. Sounds about right.

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  • Lim Lynn

    That’s sad for you to go through running around with filling up paperwork. Moral of story please research every well known brand offered organization before you support them.
    Bouayad suggests Alexandre will need a strong team to succeed. “The key for their diversification as a family firm will be to bring the right people in alongside Alexandre,” he says. After graduating from the Ecole Supérieure du Commerce Extérieur outside Paris, Alexandre worked at Bear Stearns as an analyst in the mergers and acquisitions group for two years. He spent the next two years at Argan Capital, a European private equity firm that was spun off from Bank of America (BAC).

    On joining Rothschild, Alexandre was charged with helping to set up and build the bank’s private equity unit. Thanks in part to his efforts, private equity revenue rose 37 percent last year to €78.5 million, just under 7 percent of the firm’s total. “In normal market conditions, someone at that age coming in with a view to taking over would have been ludicrous,” says Jason Kennedy, CEO of Kennedy Group, a recruiting firm. “But given the state of banking today, older doesn’t necessarily mean wiser.”
    Isn’t Bank of America got connection with Rothschild?