Advisers set to win $50m fees in BofA Fleet deal

James Hance, BofA's chief financial officer, said on Tuesday that the outside advisers - Goldman Sachs for BofA and Morgan Stanley for Fleet - were brought into the talks only 'at the last minute.'

Hance said Goldman and Morgan Stanley would receive $25m each for their contributions to the deal, worth more than $47bn at the time of announcement. The fees could be disclosed to the Securities and Exchange Commission as early as Wednesday.