San Diego employers could expect a change in staffing resources since national technology, consulting and employment firm Corporate Resources Inc. purchased Cameo Employment Services in a bid to expand its profile in Southern California. The acquisition of the Cameo corporation was complete at the time of the announcement, but financial terms of the deal were not disclosed. The chief executive of CRS said that he expected the company to see immediate incremental revenues and profitability due to the purchase of Cameo's operations.

East West Bank, a Chinese-American bank that has about 100 branches in the state of California, has announced plans to purchase MetroCorp Bancshares, another Chinese-American banking corporation that has a strong presence in the state of Texas. The acquisition of MetroBank will also allow East West Bank to operate its first branch in the city of San Diego.

More than 150 of the 200 Fresh & Easy Neighborhood Markets locations operated by U.K.-based retailer Tesco are to be turned over to Yucaipa Companies. The 50 stores that were not transferred in the deal will be closed, meaning that the clock is ticking for three San Diego County locations and five Sacramento shops. A spokesperson said that a number of other stores could be closed in the San Diego area and that these locations will soon begin liquidating their stock at sale prices.

Financial professionals in California and around the world may have recently learned that Bank of America may be considered merging its division of Merrill Lynch into the bigger firm. Merrill executives reported that the new business formation could occur possibly as early as the fourth quarter of 2013. It was a move that could allow Merrill to continue operations but streamline some BoA subsidiaries. A bank spokesman said that the merger would reduce the number of "legal entities" under the name of Bank of America. He added that the Merrill Lynch name as well as the way their clients and customers were served would remain unchanged.