The traditional brand of Merrill Lynch, rich disappears from the world of investment banking. Bank of America, which had taken over 100 years old Wall Street house in the financial crisis, wants to remove the name in the capital market business, to a large extent. In the asset management and investment division the short form Merrill stay only as a second brand, with the shared money house on Monday (local time) in Charlotte.
Merrill Lynch was founded in 1914 by Charles Merrill, still in the same year, Edmund Lynch. There is a rapid Expansion followed, and the company logo with the bull became a firm Size in the financial world. “Mother Merrill” is regarded on Wall Street as a pioneer of the mass market business, repeated with hordes of investment advisors and stock traders in droves of small investors in the financial markets.
mortgage
However, while Merrill Lynch, the large financial crises of the past century was mostly strengthened, brought to the big Crash in the Wake of the collapse of the US housing market in 2007, the Institute is violently shaken, lost. How many other houses had gambled Merrill Lynch in large-scale mortgage-backed securities, which led in 2009 to a forced sale to Bank of America.
the trademark Merrill Lynch is a stand-alone existence eked out the last decade under the new roof at all, it was, however, not a matter of course. Rivals such as Lehman Brothers or Bear Stearns, were also part of the old guard of Wall Street investment banks disappeared in the Wake of the financial crisis, is directly from the image surface. (sda)
Created: 26.02.2019, 17:46 PM
