Bank of America Merrill Lynch
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LATEST ARTICLES
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The firm has led successful IPOs around the world, done complex, cross-border equity-linked deals and held its nerve in the darkest hour for bank rights issues.
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"$1 invested in US large company stocks in 1824 would be worth around $3,642,000 today", and more gems, courtesy of Bank of America Merrill Lynch's survey of global capital markets.
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It is good to see the Bull charging back. In late April, Bank of America Merrill Lynch announced that it had hired Alex Wilmot-Sitwell from UBS as its new president of Europe and the emerging markets ex Asia. For those of you who have short memories, UBS hired one of Merrill’s top bankers, Andrea Orcel, merely a month ago to be co-head of the investment bank. Since then, Orcel has persuaded several other senior Merrill bankers to join him at UBS: Javier Oficialdegui, Javier Martinez-Piqueras and Emilio Greco.
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UBS investment bank chairman jumps ship to BAML – to take the role that Orcel was offered before he moved to UBS
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UBS chief executive Sergio Ermotti has taken a giant step back in the latest attempt to revive the ailing firm by hiring his former Merrill Lynch colleague Andrea Orcel as co-head of investment banking.
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Goldman Sachs has a problem but so does Bank of America. In late March, the chairman of banking and markets, Andrea Orcel, departed abruptly to take up a post as co-head of UBS’s investment bank. Commentators were surprised. Orcel had been at Merrill Lynch for two decades. Hailed as one of the top rainmakers of his generation, he had recently concluded the important UniCredit rights issue, on which Merrill acted as the global coordinator.
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Bolivia has mandated Bank of America Merrill Lynch and Goldman Sachs as it bids to issue its first international bond in nearly 100 years.
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A UK institutional salesperson at Bank of America Merrill Lynch has departed.
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BofA appears to follow banks such as Citigroup by adding debit valuation adjustments (DVA) to its third quarter results
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Peter Antico, global head of G10 FX at Bank of America Merrill Lynch, has left the firm, according to people familiar with the situation. He was appointed to the position in March.
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Warren Buffett’s stick-up of Bank of America in late August was a classic piece of opportunistic investment. The $5 billion deal marked an evolution in Buffett’s signature approach of renting his reputation to troubled financial companies in return for a near-extortionate fee. Rather than waiting for a firm such as Salomon or Goldman to come to him begging for protection, Buffett this time foisted a deal on Bank of America.
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Buffett instils confidence but at what price?; Deals positive signs for bank capital-raising
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Bank of America’s acceptance of Warren Buffett’s extortionate investment terms represented at best as a gimmicky decision to pay for an endorsement and at worst a disregard for the bank’s existing shareholders
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Ken Lewis, the former chief executive and chairman of Bank of America, was an autocratic bank chief and never bothered to put a proper succession plan in place. Lewis’ legacy is a murky mess.
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Richard Elliott, Bank of America Merrill Lynch’s head of electronic foreign-exchange options trading, has left the bank.
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The costs of fighting legal battles at Countrywide increased 70% from 2005 to 2006, an early warning sign of the horrors to come. As litigation mounts, banks’ expenditure to fight charges still attracts too little attention. Greater transparency could be one key to reform. Helen Avery reports.
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Kevin Connors, the former co-head of global G10 foreign exchange sales at Goldman Sachs, has been hired by Bank of America Merrill Lynch as its new global head of FX sales, according to three people familiar with the matter.
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Bank of America Merrill Lynch is big, but it has a small FX footprint. With some key hires in recent years, it hopes to capitalize on its potential. Can it deliver? asks Hamish Risk
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Many investors in structured credit deals are anxiously awaiting the outcome of SEC investigations into a number of CDO transactions, hoping that they will be able to bring lawsuits of their own if the banks are forced to settle. But the statute of limitations means that they might have already left it too late.
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Bank of America Merrill Lynch has become one of the top-five investment banks in Latin America in just two years. There are plans to double revenues over the next three. In its new role as a universal bank, will BAML be able to compete with the international banking incumbents? Helen Avery reports.
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Funding costs are rising and the markets periodically shut down. But regulators want you to raise more and to hold more short-term liquidity that you can’t reinvest at a profit. You don’t know how regulators will classify your risk assets or how much capital they will require you to hold. But it will be more than you have. Raising it will cost more than you can earn as a return on it. Fancy a challenge? Become a CFO. Peter Lee reports.
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What’s in a name? The problem for the business that Ken Lewis created is: far too much.
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The combined forces of BAML were ideally suited to service burgeoning demand for high-yield paper.
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The Asian branch of Merrill Lynch has been fined HK$3.5 million (US$450,000) for “systems and controls failings” by mis-marking a trading book in exotic options.
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Trade may be Basle III-driven; Reverse enquiry likely
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Just when Bank of America thought it had come through the dark days of 2009 Angela Iannelli and Luke enter the fray. Iannelli, a mortgage client of Bank of America, is suing the bank for stealing her parrot, Luke.
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Brian Moynihan is determined to build his big bank, whatever regulators might threaten.
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Out of adversity comes opportunity. So thinks Brian Moynihan, Bank of America’s new chief executive. He says that the much-derided Merrill Lynch takeover will seal the firm’s ambition to become the ultimate universal bank. No one doubts the size of the platform. But can Moynihan succeed where Citigroup failed and show that biggest really can be best? Helen Avery and Peter Lee report.
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Meissner hired to revive European investment banking; Roles change for Orcel, Moulds and Quigley