BAML’s global strategy pays off in Latin American push

Bank of America Merrill Lynch has become one of the top-five investment banks in Latin America in just two years. There are plans to double revenues over the next three. In its new role as a universal bank, will BAML be able to compete with the international banking incumbents? Helen Avery reports.

WHEN BANK OF America took over Merrill Lynch in September 2008, it looked like bad timing for Merrill’s Latin American investment banking business. After having shown a lack of commitment to Latin America for several years, Merrill Lynch’s then chief executive, John Thain, was just six months into a renewed build-up in the region. In March 2008, the firm had taken on nine senior investment bankers in Brazil to spearhead a push in the region and they were just beginning to make inroads.

BAML’s global strategy pays off in Latin American push

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BAML’s global strategy pays off in Latin American push

Thanks for your interest in Euromoney!To unlock this article:

How banks can make cybersecurity a revenue generator

Awards for Excellence Middle East and Islamic Finance winners celebrate in Dubai

Regulators should be upfront with taxpayers – and admit all deposits are guaranteed

The FX Files: Is it the end of the line for single-dealer platforms?

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