Merrill Lynch Shadow of its Former Self

Merrill Lynch was acquired by Bank of America, and this move has turned one of the most important financial institutions in the country into a shadow of its former self. Eighteen senior investment bankers have left Merrill Lynch for greener pastures, leaving Merrill Lynch on shaky ground, especially in a business where expert employees make all the difference.

As long as Merrill Lynch is a part of Bank of America, though, its personal struggles hardly seem to matter. On its own, Merrill Lynch would be suffering incredibly in the wake of its investment bankers leaving the company, but as part of Bank of America, falling revenue hardly makes a difference when Bank of America’s massive revenue is taking into account.

Despite Merrill Lynch’s arguably inconsequential status within Bank of America, the latter has expressed its desire for Merrill Lynch’s most important investment bankers to stick it out and stay with the company. There are still about 300 managing directors at Merrill Lynch, meaning that the number of those who left is actually a small number in the long run.

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