Bank of America Merrill Lynch is the corporate and investment banking division of Bank of America. 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.
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History
Bank of America completed the acquisition of Merrill Lynch & Co on 1 January 2009. Bank of America began rebranding all of its corporate and investment banking activities under the Bank of America Merrill Lynch name in September 2009.
In April 2011, Bank of America Merrill Lynch integrated its corporate and investment banking operations into a single division.
In October 2013, Bank of America Merrill Lynch was recognised as the Most Innovative Investment Bank of the Year in The Banker's Investment Banking Awards.
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Operations
Bank of America Merrill Lynch is organized within four geographic divisions:
Asia Pacific - Headquartered at Cheung Kong Center in Hong Kong
Europe, Middle East & Africa - Headquartered at Bank of America Merrill Lynch Financial Centre in London
Latin America and U.S. & Canada - Headquartered at Bank of America Tower, New York (also the global head office)
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. In that year it achieved the highest revenues of any investment bank worldwide in both leveraged loans and asset-backed securities.
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.
Source of the article : Wikipedia
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