BofAML to separate Bank of America and Merrill Lynch brands

These areas of the business will be branded Bank of America rather than Bank of America Merrill Lynch. This includes consumer and small business, the private bank and businesses focused on companies such as global commercial banking, global transaction services and business banking. US Trust, the private bank service high-net worth clients the group bought from Schwab in 2007, will also transition to the Bank of America brand as the Bank of America Private Bank. Meanwhile, 'Merrill' will serve as the sub-brand for the group's investing and wealth management offerings. Merrill Lynch...