Reuters reports that, in his first interview since his departure from the bank, LaMothe admitted that he had 'philosophical' differences with the way Bank of America approached wealth management.
He says: 'I know some people can thrive in that format, but I'm not one of them. I didn't get into the financial services business to be a commercial banker', and 'you cannot pressure good advisers to sell a product: they simply won't do it. It's almost counter-productive'.
LaMothe added: 'I'm not saying they tried to do anything untoward, but there are a lot of pots on the stove at that organization (Bank of America), and I was concentrated on just one'.
Ex-Merrill broker boss slams bank on client focus
The Alchemists: Three Central Bankers and a World on Fire
Hubris: How HBOS Wrecked the Best Bank in Britain
