Bank of America Merrill Lynch (BAC) : Company Profile and SWOT Analysis by WealthInsightReports


									Bank of America Merrill Lynch


Bank of America Merrill Lynch                                                     Key Employees
                                                                                  Name                      Job Title
Fast Facts
                                                                                                            Head - Investment
                                     Bank of America Corporate Center,
Headquarters Address                                                                                        management and
                                     Charlotte, 28255, United States of America
                                                                                                            guidance – Merrill Lynch
Telephone                            + 1 704 3865681                              Ashvin Chhabra            Wealth Management,
                                                                                                            Chief Investment Officer -
Fax                                  N/A                                                                    Merrill Lynch Wealth
Website                                                                           Brian T. Moynihan         Chief Executive Officer
                                     BAC (London Stock Exchange (LON))BAC
                                     (Mexico Stock Exchange)BAC (New York         Bruce Thompson            Chief Financial Officer
Ticker Symbol, Stock Exchange
                                     Stock Exchange)8648 (Tokyo Stock
                                     Exchange)                                    Charles O. Holliday       Chairperson
Number of Employees                  N/A
                                                                                  David C. Darnell          Co-Chief Operating Officer
Fiscal Year End                      December
                                                                                  Thomas Montag             Co-Chief Operating Officer
Revenue (in US$ million)             16,517.00
                                                                                  Tsunehiro Nakayama        Senior Vice President

                                                                                  Company Overview

SWOT Analysis                                                                     Bank of America Merrill Lynch is the private
                                                                                  banking and wealth management business of
Strengths                            Weaknesses                                   Bank of America Corporation, based in the US.
                                                                                  Bank of America Merrill Lynch is represented
Strong brand image                   Fee-based business model                     through bank of America’s Global Wealth &
                                                                                  Investment Management business division,
Strong financial performance         Litigation related expenses                  which comprises Merrill Lynch Global Wealth
                                                                                  Management (MLGWM), U.S. Trust Bank of
Wide range of service portfolio                                                   America Private Wealth Management, and
                                                                                  Retirement Services. MLGWM offers wealth
Opportunities                        Threats                                      management and planning services, traditional
                                                                                  and alternative investment services. The U.S.
Divestment of international wealth   Ban on proprietary trading under the         Trust division offers wealth management
management operations                Volcker rule                                 services to high-net-worth (HNWIs have a net
                                     Foreign Account Tax Compliance Act           worth of US$1 million or more, excluding their
Global HNWI market outlook                                                        primary residence) and ultra-high-net-worth
                                     in the US
                                                                                  individuals (UHNWIs have a net worth of US$30
Impact of Basel III on the wealth
                                     Increase in compliance costs                 million or more, excluding their primary
management industry
                                                                                  residence) and family offices with assets worth
                                     Intensified competition                      more than $5 million. At the end of June 2013,
                                                                                  assets under management (AuM) for the bank
                                                                                  stood at US$667 billion, reflecting the decline
                                                                                  due to divestment of the international operations
                                                                                  of Merrill Lynch. The bank had historical AuM
                                                                                  figure of US$698.1 billion as on December 31,
                                                                                  2012, which stood at US$635.6 billion as on
                                                                                  December 31, 2011 and US$643.3 billion as on
                                                                                  December 31, 2010. Bank of America Merrill
                                                                                  Lynch has a presence across 45 countries in the
                                                                                  world. It is headquartered in Charlotte, North
                                                                                  Carolina, US.

                                                                                  Key Competitors
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