The making of the new Merrill Lynch: where Bank of America’s long game is heading



During Lehman weekend in September 2008, when the global financial system faced the threat of drowning under its own debt, Bank of America threw Merrill Lynch’s life preserver by purchasing the legendary but failing brokerage and investment bank. CEO Brian Moynihan recalls it as if it were yesterday.

“It happened at a time of tremendous upheaval,” he recalls, “but unique and incredibly important to our strategy was the combination of over 10,000 Merrill Lynch consultants with our …


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