Bank of America

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Bank of America

One of the largest banks in the United States. It traces its origins to the Bank of Italy in the early 20th century, which served immigrants in San Francisco. It grew to serve all of California and, through a number of acquisitions, spread throughout the United States. In the 1990s, while named BankAmerica, it lent a hedge fund more than $1 billion; when this hedge fund lost out in the Russian financial crisis, the bank was bought by NationsBank, which took the name Bank of America. It bought MBNA, at the time the world's largest credit card issuer, in 2005. In 2008, it acquired Merrill Lynch, which was near bankruptcy, after pressure from U.S. authorities. In 2008 and 2009 it received a federal bailout worth more than $150 billion in cash and guarantees.
References in periodicals archive ?
Previously, he was the head of global industrial M&A for Banc of America Securities as well as managing director, M&A at Merrill Lynch, Pierce, Fenner & Smith.
Prior to this, Kraft was a senior research analyst at Cross Research, Banc of America Securities and Credit Suisse.
He served as chief executive of Banc of America Specialist, a registered Broker/Dealer and Designated Market Maker at the New York Stock Exchange.
That debt is restitution owed Banc of America Leasing & Capital LLC, a subsidiary of Bank of America.
It also ordered Merrill Lynch, Pierce, Fenner & Smith Inc., as successor for Banc of America Investment Services, Inc., to pay a fine of USD 900,000 and to reimburse approximately USD 1.1m in losses to 214 customers.
Between 1998 and 2005, Sandelman held a number of executive positions at Banc of America Securities, including Head of Debt and Equities and was responsible for all of the market risk and strategic direction of the firm's trading, distribution and new products development efforts.
Banc of America, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citi, HSBC, National Bank of Abu Dhabi, Royal Bank of Scotland, Societe Generale, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation are leading the transaction, according to a report from Reuters.
The subpoenas cover documents and records from Banc of America Securities Llc regarding two collateralised loan obligations, LCM VII Limited and Bryn Mawr CLO II Limited, which were structured and sold in 2007, the report noted.
The buyer will take on responsibilities for the new assignments during December, it said.Country: USA, Sector: Banking/Financial ServicesTarget: BofA Merrill Lyncha[euro](tm)s DMM businessBuyer: GETCO Vendor: BofA Merrill Lynch, Banc of America Specialists IncType: Corporate acquisitionStatus: Closed
Prior to Philadelphia Insurance Cos., Glomb worked for six years at Banc of America Securities LLC in its financial institutions investment banking practice.
[R]e-xSeptember[R]e-es jump in cash levels and lower equity exposure shows that investors[R]e-e risk appetite lags their confidence in the recovery,[R]e-EN said Gary Baker, head of European equity strategy at Banc of America Securities-Merrill Lynch Research.
Summary: Banc of America Securities-Merrill Lynch Research has raised its global economic growth forecasts for 2010 to 3.7 percent from 3.2 percent, driven by signs of recovery in the United States and China.

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