Bank of America abandons Merrill Lynch name to some companies

Bank of America is considering removing the Merrill Lynch name from its brokerage and investment banking activities, executives said. It will also rename most of its wealth management business as Merrill. These are the key activities that Bank of America has acquired as part of the deal, when Merrill Lynch sold a discount sale at the height of the 2008 financial crisis.

Rebranding marks the end of an era. Merrill Lynch had a long history on Wall Street. Unlike other companies bought during the crisis, she managed to survive, at least in name, after the acquisition.

This also reflects the evolution of the situation at Bank of America. The bank was once too involved in various post-crisis issues to devote its energy to renaming the major companies it bought. But now, the profits are constant and record, partly thanks to a better collaboration of its different units.

"We continue to unify society and continue on the path we started ten years ago," said CEO Brian Moynihan in an interview.

Investment banking, trading operations and units dealing with corporate clients were known as "Bank of America Merrill Lynch", or BAML. Units working with corporate clients will now go through Bank of America. The investment bank and the trading companies will be called BofA Securities.

Merrill Lynch Wealth Management, the largest part of the bank's wealth management business, will be renamed Merrill. The Bull brand will remain in its logo. US Trust, a 2007 wealth management acquisition that works with extremely wealthy clients, will now be called Bank of America Private Bank.

Write to Rachel Louise Ensign at [email protected]