For more than 200 years, Bank of America Corporation ("Bank of America" or “BAC”) has focused on serving the financial needs of our customers and clients. Today, Bank of America provides a full range of banking, investment management and other financial and risk management products and services to three groups of customers: individuals, companies and institutional clients (including our municipal clients). Bank of America’s organizational structure is designed to help make financial lives better through the power of every connection by providing a diverse range of banking and non-banking financial services.
Bank of America Merrill Lynch (“BofAML”) is the brand name for Bank of America’s institutional broker-dealer, BofA Securities, Inc. (“BofAS”) and the commercial bank, Bank of America, N.A. (“BANA”). BofAS is the successor entity for the institutional business of Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill”) , which was incorporated in Delaware in 1958 and was a municipal broker-dealer for approximately 60 years. Merrill continues to operate our storied retail brokerage system, while BofAS is the broker-dealer of record for municipal banking and underwriting services. On the commercial banking side, BANA has long been an active lender to municipalities, including financing the Golden Gate Bridge in the 1930s in the midst of economic depression. Our wealth management businesses, with over 17,000 retail financial advisors and client balances of nearly $2.8 trillion, provide tailored solutions to meet our retail clients’ needs through a full set of financial advisory services, including investment management, banking, trust and retirement products via two primary businesses: Merrill and Bank of America Private Bank (formerly known as US Trust).
BAC is one of the world's largest financial institutions, positioned among the world's leading wealth management companies and as a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals globally.