Bank of America Merrill Lynch

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Bank of America Merrill Lynch
Division
Industry Financial services
Founded January 1, 2009
Headquarters Bank of America Tower
New York City, New York, U.S.
Area served
Worldwide
Key people
Thomas K. Montag (COO)
Brian T Moynihan (CEO)
Products Investment banking
Parent Bank of America
Website Bank of America Merrill Lynch

Bank of America Merrill Lynch is an American multinational investment bank division under the auspices of Bank of America. Not to be confused with Merrill Lynch, the wealth management division of Bank of America, both firms are broker-dealers and engage in prime brokerage.

It provides services in mergers and acquisitions, equity and debt capital markets, lending, trading, risk management, research, and liquidity and payments management. It was formed through the combination of the corporate and investment banking activities of Bank of America and Merrill Lynch following the acquisition of the latter by the former in January 2009.

History

Bank of America completed the acquisition of Merrill Lynch & Co on 1 January 2009.[1] Bank of America began rebranding all of its corporate and investment banking activities under the Bank of America Merrill Lynch name in September 2009.[2]

In April 2011, Bank of America Merrill Lynch integrated its corporate and investment banking operations into a single division.[3]

In October 2013, Bank of America Merrill Lynch was recognised as the Most Innovative Investment Bank of the Year[4] in The Banker's Investment Banking Awards.[5]

Operations

Bank of America Merrill Lynch is organized within four geographic divisions:

Market share

Bank of America Merrill Lynch achieved the second-highest revenues of any investment bank worldwide in 2010, with a global market share of 6.8 per cent.[8] In that year it achieved the highest revenues of any investment bank worldwide in both leveraged loans and asset-backed securities.[8]

In 2011, Bank of America Merrill Lynch again achieved the second-highest revenues of any investment bank worldwide (after J.P. Morgan & Co.), with a global market share of 7.4 per cent.[9]

References

  1. ^ "Bank of America completes Merrill Lynch purchase". Reuters. 1 January 2009. Retrieved 21 January 2011.
  2. ^ "Bank of America Rebrands Offices in New York, London Towers". Bloomberg. 3 September 2009. Retrieved 29 May 2012.
  3. ^ "BofA combines investment bank divisions". Reuters. 19 April 2011. Retrieved 11 May 2012.
  4. ^ "BofA Merrill Receives The Banker Magazine's Top Global Award". Bank of America Merrill Lynch. 7 October 2013. Retrieved 28 October 2013.
  5. ^ "The Banker's Investment Banking Awards, 2013 – the winners". The Banker. 3 October 2013. Retrieved 28 October 2013.
  6. ^ "Corporate and Institutional". Bank of America. Archived from the original on 29 January 2011. Retrieved 21 January 2011.
  7. ^ Basch, Mark (December 28, 2017). "Florida's Banking Center". floridatrends.com. Florida Trends. Retrieved 20 May 2018.
  8. ^ a b "Bank of America Reports Fourth-Quarter Loss". Here Is The City News. 21 January 2011. Retrieved 21 January 2011.
  9. ^ "JPMorgan Chase Tops Dealogic's 2011 Investment Banks Ranking". Here Is The City News. 20 December 2011. Retrieved 11 May 2012.

External links

  • [1]
Retrieved from "https://en.wikipedia.org/w/index.php?title=Bank_of_America_Merrill_Lynch&oldid=855651796"
This content was retrieved from Wikipedia : http://en.wikipedia.org/wiki/Bank_of_America_Merrill_Lynch
This page is based on the copyrighted Wikipedia article "Bank of America Merrill Lynch"; it is used under the Creative Commons Attribution-ShareAlike 3.0 Unported License (CC-BY-SA). You may redistribute it, verbatim or modified, providing that you comply with the terms of the CC-BY-SA