Despite a quarter in which Bank of America’s overall income declined 39%, its wealth and investment management business surged, led by BofA Merrill Lynch.
In fact, of the Charlotte, N.C., banking company’s six business units, only wealth and investing reported revenue growth from a year earlier. BofA Merrill led the way as its revenue rose 18% and client balances increased 7%.
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access