Bank of America to make brand changes   

Feb 25 (Lagos) - Bank of America will re-name its investment bank as BofA Securities and the U.S. Trust name will be dropped from the private bank.

Merrill Lynch will no longer be part of the brand name. This brokerage was acquired by Bank of America at the height of the financial crisis in 2008.  Bank also acquired sub-Prime lender Countrywide in same year. Later it required bailout of more than $45 billion from US Government  which it has already paid back.

The name Merrill will still be used for Wealth Management business.

Bank of America reported a record $28 billion PAT for 2018 and also increased its share buy back and dividend. 

reporting for on Monday. Feb 25 2019 from Lagos, Nigeria
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