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FACTBOX-Bank of America to buy Merrill Lynch
September 15, 2008 / 2:00 PM / in 9 years

FACTBOX-Bank of America to buy Merrill Lynch

NEW YORK, Sept 15 (Reuters) - Bank of America Corp’s (BAC.N) planned $50 billion acquisition of Merrill Lynch & Co MER.N would create the world’s second-largest bank by market value, after Industrial & Commercial Bank of China, and combine the largest U.S. consumer bank with one of the largest U.S. investment banks and the leading retail brokerage force.

Below are statistics that illustrate the scale of the combined companies, according to a conference call with analysts Monday morning:

* 20,000 wealth management financial advisers handling accounts with $2.5 trillion of client assets

* Bank of America has $589 billion of assets under management, while Merrill has a 50 percent stake in BlackRock Inc (BLK.N), with $1.4 trillion of assets under management

* Combined, the companies would be the No. 1 underwriter of global high-yield debt, No. 3 underwriter of global equity, and No. 9 adviser on global mergers and acquisitions, based on 2008 first-half data.

* Combined, consumer and small business banking comprised 48 percent of first-half revenue, corporate and investment banking 32 percent, and wealth management 20 percent, according to first-half data. (Compiled by Joe Giannone; editing by John Wallace)

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