BofA Merrill Surprises on Upside

BofA Merrill Surprises on Upside


At the end of an extremely challenging year for investment banks globally, there are two big surprises in LatAm. One is that the fee pool from core investment banking activities –M&A, DCM and ECM – has actually expanded slightly. The other is that Bank of America Merrill Lynch – which most of the street had written off as a regional player after its troubled merger – has actually doubled its fees and is among the biggest year-on-year improvers in the regional revenue league tables. The merge

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