Search results
Results from the WOW.Com Content Network
The company was founded on January 6, 1914, when Charles E. Merrill opened Charles E. Merrill & Co. for business at 7 Wall Street in New York City. [11] A few months later, Merrill's friend, Edmund C. Lynch, joined him, and in 1915 the name was officially changed to Merrill, Lynch & Co. [12] At that time, the firm's name included a comma between Merrill and Lynch, which was dropped in 1938. [13]
Rating agencies lowered the credit ratings on $1.9 trillion in mortgage backed securities from the third fiscal quarter (1 July—30 September) of 2007 to the second quarter (1 April–30 June) of 2008. One institution, Merrill Lynch, sold more than $30 billion of collateralized debt obligations for 22 cents on the dollar in late July 2008.
NEW YORK -- Bank of America's Merrill Lynch unit was fined $8 million and will reimburse $24.4 million to customers to settle allegations that it overcharged more than 47,000 retirement accounts ...
BofA's (BAC) unit, Merrill Lynch agrees to pay $8.9 million to settle charges related to failing to disclose a conflict of interest with a third-party product provider.
Merrill Lynch & Co., formally Merrill Lynch, Pierce, Fenner & Smith Incorporated, was a publicly-traded American investment bank that existed independently from 1914 until January 2009 before being acquired by Bank of America and rolled into BofA Securities. The firm engaged in prime brokerage and broker-dealer activities and was headquartered ...
Among the specifics of the claim were that Bank of America agreed to allow Merrill Lynch to pay as much as $5.8 billion in undisclosed year-end discretionary bonuses to executives and employees and that Bank of America and Merrill Lynch executives were aware of billions of dollars in losses suffered by Merrill Lynch in the two months before the ...
Merrill Lynch was acquired by Bank of America in September 2008 for $50 billion. [9] Scottish banking group HBOS was acquired by UK rival Lloyds TSB on 17 September 2008, after "HBOS voiced concerns that depositors and lenders had begun to withdraw their credit from the bank". The UK government made this takeover possible by waiving its ...
Kenneth D. Lewis (born April 9, 1947) is the former CEO, president, and chairman of Bank of America, currently the second largest bank in the United States [1] and twelfth largest by total assets in the world. [2] While CEO of Bank of America, Lewis was noted for purchasing the failing companies Countrywide Financial and Merrill Lynch ...