Bank of America Merrill Lynch’s global wealth and investment management unit posted a first-quarter profit of $547 million, more than doubling the $259 million it earned in the fourth quarter, and the second-highest quarterly profit since the Merrill acquisition in 2008.

Company officials credited higher revenue, up 4.6% sequentially to $4.36 billion, lower credit costs and lower expenses for the impressive improvement compared to the fourth quarter.

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

Don't have an account? Register for Free Unlimited Access