AMERICA

Merrill Lynch does about face on fiduciary-era policy

Merrill Lynch does about face on fiduciary-era policy

Published 30/08/2018

(Reuters) - Bank of America Corp’s wealth management arm Merrill Lynch said on Thursday it is reintroducing commissions for its retirement accounts, reversing a policy [more…]

BofA profit beats estimates on higher interest rates, loan growth

BofA profit beats estimates on higher interest rates, loan growth

Published 16/04/2018

(Reuters) - Bank of America (BAC.N) reported a 34 percent rise in first-quarter profit on Monday, topping Wall Street estimates, as the lender benefited from [more…]

Bank of America to add Merrill Edge offices, advisers

Bank of America to add Merrill Edge offices, advisers

Published 29/03/2018

(Reuters) - Bank of America Corp said on Thursday it will grow its wealth management offering for mainstream investors by opening 600 new Merrill Edge [more…]

Merrill Lynch bans clients from investing in Silbert bitcoin fund

Merrill Lynch bans clients from investing in Silbert bitcoin fund

Published 04/01/2018

The company logo of the Bank of America and Merrill Lynch is displayed at its office in Hong Kong March 8, 2013. REUTERS/Bobby YipNEW YORK [more…]

Britain`s financial watchdog fines Merrill Lynch 34.5 million pounds

Britain`s financial watchdog fines Merrill Lynch 34.5 million pounds

Published 23/10/2017

Britain's financial watchdog said it had fined Bank of America's Merrill Lynch 34.5 million pounds ($45.5 million) for failing to report 68.5 million exchange traded derivative transactions between February 2014 and 2016. [more…]

E*Trade to buy custody firm in growth push as profits remain dull

E*Trade to buy custody firm in growth push as profits remain dull

Published 20/10/2017

E*Trade Financial Corp (ETFC.O) plans to spend $275 million to acquire a firm that provides custody services and technical support to financial advisers, the discount brokerage firm said on Thursday. [more…]

Deutsche Bank, Bank of America settle agency bond rigging lawsuits

Deutsche Bank, Bank of America settle agency bond rigging lawsuits

Published 17/08/2017

Deutsche Bank AG and Bank of America Corp agreed to pay a combined $65.5 million to settle investor litigation accusing large banks of rigging the roughly $9 trillion government agency bond market over a decade. [more…]

Merrill Lynch to freeze costly recruiting bonuses for brokers

Merrill Lynch to freeze costly recruiting bonuses for brokers

Published 12/05/2017

The company logo of the Bank of America and Merrill Lynch is displayed at its office in Hong Kong March 8, 2013. REUTERS/Bobby Yip

Bank of America Corp's Merrill Lynch will stop paying the big upfront bonuses that Wall Street brokerages have long used to lure talent, ending a costly practice that did not always reap returns.

[more…]

Bank of America`s Merrill Lynch to debut fiduciary-friendly account option

Bank of America`s Merrill Lynch to debut fiduciary-friendly account option

Published 12/05/2017

Bank of America Corp's brokerage, Merrill Lynch, said on Thursday it will roll out a commissions-paying retirement account compatible with a new U.S. Labor Department regulation that raises the standards for client care.

[more…]

Bank of America`s wealth revenue rises on assets under management, fees

Published 18/04/2017

Bank of America's (BAC.N) wealth business reported revenue climbed 3 percent to $4.6 billion in the first quarter this year from last year on higher client assets under management and fees, Bank of America Chief Financial Officer Paul Donofrio said Tuesday.

[more…]