>> bob mccann. the story is going to sources close to mccann that any day now they're expecting him to reach an agreement with bank of america where they're imposing some noncompete clause. he used to be the head of the brokerage department which frees him up to do other things. what that other thing is likely to be, because he is still in negotiations, is running the brokerage department for ubs. that's where the battle begins. as you know, sallie krawcheck is running brokerage at merrill. bob mccann used to work at merrill. his first order of business if he does go to ubs, which is a likelihood, he has been offered the entire ubs america. that's the u.s. subsidiary of ubs. robert wolf runs that now from what i understand. that may come to an end pretty soon. mccann, from what i understand, wants to run the wealth management division. when he does that, then you are going to get a baitle royal for broke errs for top talent and w be mccann trying to poach people from his own firm. sallie krawcheck un

and bob mccann. bob mccann, the former held of merrill lynch's broker department, there are talks right now of moving him not just as the head of the broker division of ubs, we actually first reported that. but also, possibly head of the entire u.s. subsidiary of ubs where he would run not just wealth management, but investment banking, and basically reporting to ozzy grubbel, the head of the big swiss investment firm, financial firm, and if he does that, from what i understand, he would be replacing robert wolf who now runs the show over there right now. wolf's a prettyisting guy. you know, he runs the investment bank there, runs the americas. he's the major obama fund-raiser. i believe he's recently playing golf with the president. the last thing is really interesting, examined in the auction rate securities probe of new york attorney general andrew cuomo, gains testimony from what i understand in that case. was not charged. i don't think anybody -- nobody at ubs was charged. i believe ubs reached

right now he's in negotiations with bob mccann, the former head of the wealth management unit of merrill lynch, long time merrill lynch executive left last year amid turmoil. here is what mccann wants to do. mccann had made a proposal to essentially if he was going to take this job as head of wealth management he wanted at some point to have it spun off into a separate company where he would participate in the upside of building that business. that was something mccann has pitched to gruebel. that spinoff would be done at later date when the market conditions changed. there are several complicated factors to making this work, the market is not good, number two, getting mccann in this job. he has a contract with bank of america. they say he has a noncompete clause. there are settlement negotiations going on. people who know mccann says he will get out of it. then he goes to ubs. what job does he take? another complicating factor. sources confirm that ozzie gruebel offered him robert wolf's job. he is head of all ubs america. now how this plays into mccann's grand scheme, i don't know, to

the real headline here is bob mccann according to sources inside ubs is being corpsed for the ubs americashould get it. not just wealth management, the whole kit and caboodle. good luck to bob. >> got it. thank you, charlie. >>> american bankers say they are two of the most powerful women in banking. >>> despite the tough times in the financial industry, there have been a number of banking executives who have managed to weather the crisis remarkably well. the 5 most powerful women in banking is american banker, the annual tribute to the professional achievements of these women executives. numb er 3 and 14, good to see you. i'm going to be very frank with you. i never like this topic and i never like segments like this. we would never do something about the 25 most powerful men in banking, it would just be the 25 most powerful people in banking. we still do 25 the most powerful women. how long before you think this kind of ranking because irrelevant because we don't have to talk about it anymore? >> i think there is always a place for the top women in any profession. mostly women are underr