BofA Securities

BofA Securities, Inc.,[1] previously Bank of America Merrill Lynch (BAML), is an American multinational investment banking division under the auspices of Bank of America. It is not to be confused with Merrill, the stock brokerage and trading platform subsidiary of Bank of America.

This article is about Bank of America's investment banking arm. For details about its wealth management arm, see Merrill (company).

BofA Securities
TypeDivision
IndustryFinancial services
Predecessors
FoundedJanuary 1, 2009
HeadquartersBank of America Tower (New York City, U.S.)
Area served
Worldwide
Key people
Brian T Moynihan (CEO)
ProductsInvestment banking
ParentBank of America
Websitewww.bofaml.com

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 & Co. following the acquisition of the latter by the former in January 2009.

History

Bank of America completed the acquisition of Merrill Lynch & Co on January 1, 2009.[2] Bank of America began rebranding all of its corporate and investment banking activities under the Bank of America Merrill Lynch name in September 2009.[3]

Bank of America Merrill Lynch branding was used from 2009 to 2019

In April 2011, Bank of America Merrill Lynch integrated its corporate and investment banking operations into a single division.[4]

In October 2013, Bank of America Merrill Lynch was recognized as the Most Innovative Investment Bank of the Year[5] in The Banker's Investment Banking Awards.[6]

In February 2019, Bank of America announced a rebrand of its investment banking division to "BofA Securities".[7]

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.[10] In that year it achieved the highest revenues of any investment bank worldwide in both leveraged loans and asset-backed securities.[10]

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.[11]

References
  1. Ensign, Rachel Louise (February 25, 2019). "Bank of America to Drop Merrill Lynch Name From Some Businesses". Wall Street Journal. ISSN 0099-9660. Retrieved February 25, 2019.
  2. "Bank of America completes Merrill Lynch purchase". Reuters. January 1, 2009. Retrieved January 21, 2011.
  3. "Bank of America Rebrands Offices in New York, London Towers". Bloomberg. September 3, 2009. Retrieved May 29, 2012.
  4. "BofA combines investment bank divisions". Reuters. April 19, 2011. Retrieved May 11, 2012.
  5. "BofA Merrill Receives The Banker Magazine's Top Global Award". Bank of America Merrill Lynch. October 7, 2013. Archived from the original on October 29, 2013. Retrieved October 28, 2013.
  6. "The Banker's Investment Banking Awards, 2013 – the winners". The Banker. October 3, 2013. Retrieved October 28, 2013.
  7. Moyer, Robert Frank, Liz (February 25, 2019). "Bank of America to drop Merrill Lynch name and rebrand wealth unit as just 'Merrill'". www.cnbc.com. Retrieved February 25, 2019.{{cite web}}: CS1 maint: multiple names: authors list (link)
  8. "Corporate and Institutional". Bank of America. Archived from the original on January 29, 2011. Retrieved January 21, 2011.
  9. Basch, Mark (December 28, 2017). "Florida's Banking Center". floridatrends.com. Florida Trends. Retrieved May 20, 2018.
  10. "Bank of America Reports Fourth-Quarter Loss". Here Is The City News. January 21, 2011. Archived from the original on January 23, 2011. Retrieved January 21, 2011.
  11. "JPMorgan Chase Tops Dealogic's 2011 Investment Banks Ranking". Here Is The City News. December 20, 2011. Retrieved May 11, 2012.
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