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Tag Archive: Merrill Lynch

  • Bank of America sells Swiss wealth management business

    Bank of America (BoA) is transferring ownership of Merrill Lynch Bank (Suisse) to Swiss private bank, Julius Baer Group. The move forms part of the sale of BoA’s entire international wealth management business based outside the US, and further transfers … Read more »

  • Morgan Stanley hire Sanchez

    Morgan Stanley (NYSE: MS) Private Wealth Management has named Mauricio Sanchez as executive director and head of Latin America operations in Geneva. He leaves behind Merrill Lynch, where he occupied a number of senior positions in Operations, Finance, Administration and … Read more »

  • Optimism surges amongst US investors

    Merrill Lynch has revealed that its August Survey of Fund Managers has uncovered a substantial rise in optimism about the prospects of the global economy in the immediate future. Optimism amongst investors stands at its highest level since 2003, with … Read more »

  • Deutsche Bank makes raft of appointments

    The Financial Institutions Group of Deutsche Bank (part of the Global Banking division) has been significantly bolstered with the addition of a dozen new appointments. The appointments, including managing directors, vice presidents and associates, are made in London, Hong Kong … Read more »

  • Bank of America to lose 1,900 jobs in the City

    Following the completion of the Bank of America-Merrill Lynch merger at the start of the year up to 1,900 jobs in the City are to be shed, according to the Times. The firm is looking to reduce its London-based workforce … Read more »

  • Bank of America completes acquisition of Merrill Lynch

    Bank of America Corporation (BofA) has completed its purchase of Merrill Lynch, to create the largest wealth management business in the world. The transaction was hurriedly agreed in mid-September, shortly before Lehman Brothers filed for bankruptcy protection. Shareholders of Merrill … Read more »

  • Bank of America to cut up to 35,000 jobs

    Bank of America (BoA) has announced that it will be cutting its global workforce by between 30,000 and 35,000 during the next three years. The cull takes into account the group’s integration of Merrill Lynch, which is in the process … Read more »

  • Merrill posts $5.15 billion loss as risky assets offloaded

    Wall Street investment bank, Merrill Lynch, has posted a $5.15 billion loss for the third quarter of 2008. The scale of the loss was above analysts’ expectation and reflected a $9.5 billion writedown on mortgage-related investments. In the dark days … Read more »

  • Merrill Lynch acquired by Bank of America

    Merrill Lynch is being acquired by Bank of America Corp. for around $44 billion. As Wall Street faced a weekend of crisis talks centred on a rescue package for Lehman Brothers, Merrill agreed to an all share deal in which … Read more »

  • Merrill Lynch appoint TMT investment banking chief

    Merrill Lynch & Co has announced the appointment of George H. Young III as the new global chief of Technology, Media and Telecommunications (TMT) Investment Banking. Young, who is to be based in New York, was formerly head of Global … Read more »

  • Merrill Lynch strengthens mortgage team

    Merrill Lynch & Co., Inc. has announced the appointment of Michael Nierenberg as head of global mortgages and securitised products businesses. In addition, the firm has hired James De Mare to join the mortgage trading operations team. De Mare will … Read more »

  • Merrill Lynch freezes jobs and UK tax liability

    Investment bank, Merrill Lynch, is continuing its cost-cutting programme with a freeze on staff recruitment that will cost further jobs in the UK. According to reports in the press, the bank has warned staff that 5,000 job cuts worldwide are … Read more »

  • Merrill fundraises again as it offloads CDO exposure

    Investment bank, Merrill Lynch, has announced plans to raise $8.5 billion in new capital, after revealing that it will be writing down $10.6 billion in the third quarter of the year. According to a report in The Telegraph, Merrill has … Read more »

  • JP Morgan and Merrill post second quarter results

    US investment bank JP Morgan Chase has recorded second-quarter profits above market expectations. The firm wrote down $1.1 billion during the quarter and net profit fell year-on-year by 53%, to $2 billion. However, $540 million of the write down was … Read more »

  • Merrill Lynch acquires Chilean presence

    Merrill Lynch & Co., Inc. yesterday announced that it is to acquire Ureta y Bianchi Corredores de Bolsa S.A, a Chilean equity broker firm. The acquisition will be part of a wider move to establish a Chilean presence in the … Read more »

  • Merrill Lynch names Tyers as Broadcort president

    Yesterday Merrill Lynch announced the appointment of John R. Tyers to the post of Broadcort’s president. In his new position Tyers will report directly to Michael Perry, Managing Director and leader of Corporate and Investment Services. Broadcort offers broker-dealers clearing … Read more »

  • Merrill Lynch appoints Noujaim

    Fares D. Noujaim has been named by Merrill Lynch as the firm’s new president of Middle East & North Africa business. He joins the firm from Bear, Stearns & Co, where he sat on the board as vice chairman and … Read more »

  • 4,000 jobs at risk as Merrill Lynch writes down $6bn

    Merrill Lynch, the New York-based stock broker, has recorded a loss of $1.96 billion for the first quarter of 2008, compared with a net profit of $2.16 billion in the first three months of 2007. The firm has added $6 … Read more »