Originally a broker-dealer, Merrill Lynch, Pierce, Fenner & Smith was rescued by Bank of America at the height of the financial crisis on the 14th September 2008. Yesterday the bank’s CEO Brian Moynihan said in an interview, ‘’we are continuing to unify the company, continuing down the road we started on a decade ago’’. The bank reverts to just Bank of America, the wealth management arm will be rebranded just Merrill. Perhaps they think that bit of the name has less toxic connotations.
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