February 25, 2019
(Reuters) – Bank of America Corp is dropping the “Merrill Lynch” name from most of its businesses including its investment bank unit, the lender said on Monday.
The bank will rename its wealth management business as “Merrill,” while the global markets, investment banking, and capital markets business will be known as “BofA Securities.”
Bank of America bought Merrill Lynch at the height of the 2007-08 financial crisis.
(Reporting By Aparajita Saxena in Bengaluru; Editing by Sai Sachin Ravikumar)