Bank of America dissolves Merrill Lynch unit

Bank of America will drop the Merrill Lynch name from its trading and investment banking outfits, according to reports. The banking giant, which bought the longstanding Wall Street firm during the.

Merrill Lynch Life Agency Inc. ("MLLA") is a licensed insurance agency and wholly owned subsidiary of BofA Corp. Trust and fiduciary services are provided by Bank of America Private Bank, a division of Bank of America, N.A., Member FDIC, and a wholly-owned subsidiary of BofA Corp.

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Bank of America to drop Merrill Lynch name and rebrand wealth unit as just ‘Merrill,’ WSJ says – Bank of America will dump the name Merrill Lynch from its investment bank and trading operations and keep just "Merrill" as the brand for its wealth management division, according to a report Monday.

Bank of America Corp. is planning to drop Merrill Lynch from the branding of its investment bank, while it will use the name Merrill for its wealth management unit.

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The Julius Baer Group has announced that Bank of America (NYSE: BAC) is selling Merrill Lynch’s international wealth management business to the Swiss private banking firm for approximately 860 million.

Bank of America acquired Merrill for $33 billion in 2009. The Charlotte, North Carolina-based bank plans to dissolve the unit as early as the fourth quarter while keeping the Merrill Lynch brand for.

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The investment banking, global markets and capital markets units that had been branded as Bank of America Merrill Lynch will now be marketed as BofA Securities.

Bank of America on Thursday said Andy Sieg will become the new head of its Merrill Lynch brokerage unit, effective Jan. 1. NICHOLAS KAMM AFP/Getty Images Merrill Lynch’s “Thundering Herd” of financial.

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While Bank of America will keep the Merrill Lynch brand for its retail brokerage and investment bank, the Charlotte, N.C.-based company plans to dissolve the subsidiary as early as the fourth.

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