Bank of America is due to close its acquisition of Merrill Lynch in March 2009 but it is still not clear what it plans to do with Merrill’s Latin American business.
In mid October, John Thain, chief executive of Merrill Lynch, who will run investment banking, asset and wealth management at BofA, gave few clues as to what the strategy would be except to say that the bank would focus on the big emerging economies: “We have consistently said we see opportunities in Brazil, Russia, India and China.
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