American investment management and wealth management division of Bank of America. Along with BofA Securities, the investment banking arm, both firms engage in prime brokerage and broker-dealer activities. The firm is headquartered in New York City, and once occupied the entire 34 stories of 250 Vesey Street, part of the Brookfield Place complex in Manhattan. Merrill employs over 14,000 financial analysts and manages $2.3 trillion in client assets. The company also operates Merrill Edge, a division for investment and related services, including call center counsultancy. Prior to 2009, the company was publicly owned and traded on the New York Stock Exchange. Merrill Lynch & Co. agreed to be acquired by Bank of America on September 14, 2008, at the height of the financial crisis of 2007–2008, the same weekend that Lehman Brothers was allowed to fail. The acquisition was completed in January 2009[3] and Merrill Lynch & Co., Inc. was merged into Bank of America Corporation in October 2018, with certain Bank of America subsidiaries continuing to carry the Merrill Lynch name, including the broker-dealer Merrill Lynch, Pierce, Fenner & Smith. In 2019, Bank of America rebranded the unit to “Merrill”.
Bank of America and BofA Securities
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3.2
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Banking & LendingESG/Ethical Impact
We demonstrate our commitment to transparency by disclosing our environmental, social and governance (ESG) impacts through a number of reporting frameworks. We make these disclosures because we believe it is important that stakeholders — including our clients, teammates, communities and shareholders — understand how we manage ESG issues and have better insight into how we are living our values and delivering on our purpose to drive responsible growth. Our company adopted Responsible Growth in 2014, and fully discussed its core tenets in our Annual Report the following year. These tenets have served as the foundation for our strong performance and progress. We have seen Responsible Growth work in the relative calm of 2015 to 2019, the pandemic tumult of 2020 and 2021, and the infationary period of 2022. In each of these periods, our company benefted from our long-term consistency and adherence to the tenets of Responsible Growth. The core tenets of Responsible Growth have served our company and you, our shareholders, well during good times and stress. Responsible Growth served us well through the period from 2015 to 2019, when the economies of the world settled into normalized growth rates and interest rates rose in the U.S. with the Federal Reserve’s tightening cycle.
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2023
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4.1
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3.8
Company Size
10000+
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3