when did bank of america buys merrill lynch
Merrill Lynch The firm has its origins in Merrill Lynch & Co., Inc. which, prior to 2009, was publicly owned and traded on the New York Stock Exchange under the ticker symbol MER. Merrill Lynch & Co. agreed to be acquired by Bank of America on September 14, 2008, at the height of the 2008 Financial Crisis.[3] The acquisition was completed in January 2009[4] and Merrill Lynch & Co., Inc. was merged into Bank of America Corporation in October 2013, although certain Bank of America subsidiaries continue to carry the Merrill Lynch name, including the broker-dealer Merrill Lynch, Pierce, Fenner & Smith.[5][6]
Bank of America As of December 31, 2016, the company held 10.73% of all bank deposits in the United States.[8] It is one of the Big Four banks in the United States, along with Citigroup, JPMorgan Chase and Wells Fargo—its main competitors.[9][10] Bank of America operates—but does not necessarily maintain retail branches[11]—in all 50 states of the United States, the District of Columbia and more than 40 other countries. It has a retail banking footprint that serves approximately 46 million consumer and small business relationships at 4,600 banking centers and 15,900 automated teller machines (ATMs).[3]