Bank of America Rebrands Its Investment and Wealth-Management Businesses
Bank of America is rebranding some of its businesses, including the investment banking and wealth-management sectors. The investment bank will be renamed as BofA Securities, while the wealth management division will transition from Merrill Lynch to Merrill.
Over the last decade, Bank of America has acquired several businesses, including the longstanding Wall Street firm Merrill Lynch and the private bank U.S. Trust. Branding under U.S. Trust will be renamed as Bank of America Private Bank.
These efforts are designed to unify the bank’s brands, according to CEO Brian Moynihan. The wealth management brand will maintain the bull logo with the Merrill name to maintain some of Merrill Lynch’s longstanding legacy. The firm was founded in 1914, but it was acquired by Bank of America in 2008 after America’s economic crisis.
Moynihan took over as CEO in the height of the financial crisis, and many attribute the bank’s success in the aftermath to his leadership skills.
This entry was posted in Credit Card News and tagged Bank of America , Merrill Lynch , Brian Moynihan , wealth management , Merrill , BofA Securities , B of A Securities , U.S. Trust , Bank of America Private Bank , Private Bank , rebrand , rebranding
The information contained within this article was accurate as of February 26, 2019. For up-to-date
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