Banc of America Securities
LLC is a subsidiary of Bank of America Corp. It is currently one of two investment banking
arms of its parent following BoA’s recent $50 billion acquisition of Merrill Lynch & Co. Inc.. The
i-banks now come under the umbrella of Bank of America Merrill Lynch, the marketing name
for BofA's global banking and markets businesses.
BofA Securities services include securities
underwriting, fixed income and equity research, sales and trading and brokerage services. It also advises on
mergers and acquisitions, public offerings and leveraged buyouts. Outside of the U.S. it has affiliates in
Asia, Europe and South America.
Merrill’s bankers have been described as the “thundering heard”
compared to BofA’s Main Street bankers. Parent BofA is considering an overhaul of its investment-banking
unit’s compensation. It also plans to eliminate up to 35,000 jobs across the board in the next three years, a
process already underway.