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People: BofA Merrill tries to regain focus

Focus returns to core investment banking; Bajpai claims synergies from merger

Losing My Position
Merrill Lynch performance in Asia Pacific IB revenue ranking, 2001 to 2008
Year Net revenue ($mln) Position % share
2001 271 5 6.7
2002 159 8 4.1
2003 207 10 3.9
2004 253 11 3.8
2005 387 8 4.9
2006 411 10 3.8
2007 483 7 4.1
2008 278 11 3.2
Source: Dealogic

Bank of America Merrill Lynch is busy hiring as it looks to regain a reputation as one of the best Asia-Pacific investment banking franchises, a status that Merrill Lynch had earlier in the decade. Having been ranked fifth in 2001 on Dealogic’s league table for core investment banking revenues, with a market share of 6.7%, Merrill Lynch lost some of its focus on investment banking as more profitable activities such as principal investing gained popularity.

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