Bank of America Merrill Lynch is the investment banking and wealth management division of Bank of America. With over 15,000 brokers and $2.2 trillion in client assets it is the world's largest brokerage. Formerly known as Merrill Lynch & Co., Inc., prior to 2009 the firm was publicly owned and traded on the New York Stock Exchange under the ticker symbol MER. The firm was involved in several of the major financial scandals of the last 20 years, including those centred on Enron and financial derivatives, resulting in many multi-million dollar fines. It ceased to exist as a separate entity... in September 2008 at the height of the 2008 Financial Crisis, having been acquired by Bank of America. This article describes both the historical Merrill Lynch and its ongoing operations as a subsidiary of the Bank of America. Merrill Lynch provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related financial services worldwide. Merrill Lynch is headquartered in New York City, and occupies the entire 34 stories of the Four World Financial Center building in Manhattan.
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