Bank of America has completed the merger of its Merrill Lynch & Co. subsidiary into Bank of America Corp.
Bank of America previously stated that it was considering merging Merrill Lynch & Co. directly into Bank of America Corp. as early as the fourth quarter of 2013.
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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., 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-US broker-dealer entities will continue to operate under their current names and brands.
As of 1 October, in connection with the merger, Bank of America Corp. assumed all of Merrill Lynch & Co.’s obligations, including its outstanding US and non-US debt securities, its obligations regarding outstanding trust-preferred securities, and its guarantees of both outstanding non-US debt securities issued by its subsidiaries and trading contracts of its subsidiaries.
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By GlobalDataAlso, as a result of the merger, Merrill Lynch & Co. will cease to separately file reports with the US Securities and Exchange Commission.
