By Business Wire, October 01, 2013, 10:30:00 AM EDT
CHARLOTTE, N.C.--(BUSINESS WIRE)--
Bank of America announced today that it has completed the merger of its
Merrill Lynch & Co., Inc. subsidiary into Bank of America Corp.Bank of
America previously stated that it was considering merging Merrill Lynch
& Co., Inc. directly into Bank of America Corp. as early as the fourth
quarter of 2013. The merger has no effect on the Merrill Lynch name and
brand, and will have no impact on customers or clients.
Subsidiaries of Merrill Lynch & Co., Inc., a holding company, will
continue to operate under the Merrill Lynch name and brand. Bank of
America's primary broker-dealer, Merrill Lynch, Pierce, Fenner & Smith,
and its non-U.S. broker-dealer entities will continue to operate under
their current names and brands.
As of Oct. 1, in connection with the merger, Bank of America Corp.
assumed all of Merrill Lynch & Co., Inc.'s obligations, including its
outstanding U.S. and non-U.S. debt securities, its obligations regarding
outstanding trust-preferred securities, and its guarantees of both
outstanding non-U.S. debt securities issued by its subsidiaries and
trading contracts of its subsidiaries. Also, as a result of the merger,
Merrill Lynch & Co., Inc. will cease to separately file reports with the
U.S. Securities and Exchange Commission.
Bank of America
Bank of America is one of the world's largest
financial institutions, serving individual consumers, small- and
middle-market businesses and large corporations with a full range of
banking, investing, asset management and other financial and risk
management products and services. We serve approximately 51 million
consumer and small business relationships with approximately 5,300
retail banking offices and approximately 16,350 ATMs and award-winning
online banking with 30 million active users and more than 13 million
mobile users. Bank of America is among the world's leading wealth
management companies and is a global leader in corporate and investment
banking and trading across a broad range of asset classes, serving
corporations, governments, institutions and individuals around the
world. Bank of America offers industry-leading support to approximately
3 million small business owners through a suite of innovative,
easy-to-use online products and services. The company serves clients
through operations in more than 40 countries. Bank of America
Corporation stock (NYSE:BAC) is listed on the New York Stock Exchange.
Visit the Bank of America newsroom for more Bank
of America news.
Source: Bank of America