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Bank of America to merge Merrill into parent company

Bank of America to merge Merrill into parent company

  • Four years after purchasing the brokerage, Bank of America (BAC +1%) will merge Merrill Lynch into the parent company as soon as Q4 in an effort to reduce complexity and costs. The Merrill name is going nowhere.
  • Dissolving the separate entity means BofA assumes all of Merrill’s obligations and debt and removes the need for filing another set of regulatory disclosures. It should also make the planning of the bank’s “living will” a simpler exercise, suggests analyst David Hendler.
  • Bank of America 10-Q.

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BAC price at time of publication: $14.46. Check BAC price now »

 

It’s called moving the books and manipulation.

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