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Bank of America postpones the 105-year Merrill Lynch brand



Bank of America ( BAC ] said on Monday that he would no longer use Merrill Lynch for his investment banking and sales departments. Instead, these businesses will form a division called BofA Securities.

The bank also said that its proposals for investment and capital management would become Merrill products, although the asset management team logo would still include the famous Merrill Lynch bull.

The main financial advisory unit will continue to operate as Merrill Lynch Wealth Management, according to the company.

Bank of America assimilated Merrill Lynch in 2008 at the peak of a push to Wall Street. But the commitment of the Bank of America to the Merrill Lynch brand gave him a long life. As Bear Stearns and Wachovia, they were not so fortunate.

In a statement, General Director Brian Moynihan stated that changes would take place over the coming months.

US Trust, which Bank of America bought in 2007, will now be

Merrill Lynch was founded in 1

914 by Charles Merrill and Edmund Lynch. The company turned into a mass retail broker, which was intended to expose casual investors to the stock market, and its brokers began to call the "thunderous herd."

  The views of Merrill Lynch, Fenner and Smith in 1958.

The bank also took a cover on Wall Street for an investment bank.

Merrill Lynch was sold to Bank of America for $ 50 billion in September 2008.

Since then, the company has grown in price, and Bank of America America seems to think it's time to move on.

The company brought $ 7.3 billion in revenue in the past quarter. The profit in 2018 amounted to $ 28.1 billion, the record.

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