Bank of America (BofA) has re-launched
the Merrill Lynch brand just over a year after the bank’s highly
controversial, politically engineered $20 billion acquisition of
the group at the peak of the financial crisis last
September.
BofA has resurrected ML’s famous bull icon as a part of a major
marketing push called ‘help2’, launched earlier this month. The
target segment is people with $250,000 in investable assets. Some
of the campaign’s key themes include: ‘help2cherish’, which focuses
on wealth preservation; ‘help2comethrough’, in which Merrill Lynch
Financial Advisors aim to help clients build a ‘one size fits you’
financial approach; and ‘help2retire’.
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Off the back of strong trading and institutional banking markets,
Merrill Lynch has become one of the better performers for BofA –
despite the fact it almost collapsed last September. BofA says it
expects to achieve in excess of 40 percent of the previously
announced goal of $7 billion in cost savings in 2009, far ahead of
the original goal of 25 percent for the year.
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