Merrill Lynch, the 99-year-old firm known for its "thundering herd" of brokers, may cease to exist as a legal entity four years after being acquired by Bank of America.
While BofA will keep the Merrill Lynch brand for its retail brokerage and investment bank, the company plans to dissolve the subsidiary as early as the fourth quarter, according to an Aug. 2 filing. The firm will assume Merrill Lynch's obligations and debt.
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