Bank of America Corp. will drop Merrill Lynch from its investment-bank brand, while keeping the name Merrill for wealth management.
The investment bank is to be called BofA Securities and the U.S. Trust name will be dropped from the private bank, Charlotte, N.C.-based BofA said Feb. 25 in a statement.
Bank of America acquired Merrill Lynch, known for its “thundering herd” of brokers pitching stocks to Main Street, in the depths of the financial crisis. The firm took steps to dissolve the Merrill legal entity in 2013 while keeping the brand across retail and institutional businesses.
Key Changes
- BofA ...
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