Everyone at ML believes BAC will sell it at some point.  I am beginning to think that is wishful thinking from guys who are too afraid to leave.

BAC sells MER within 5 years and keeps all the banking products they cross-sold.  Book it.  BAC is gonna make a killing on it.

BAC sells MER within 5 years and keeps all the banking products they cross-sold.  Book it.  BAC is gonna make a killing on it.

I would also believe the BAC will sell ML, thats why they are cross selling and trying to get the Wealth Management Bankers to get into the books of Advisors.   Has anyone heard of this Pilot program where they are assigning a banker specifically to a large team to really infiltrate the book.   Any team that agrees to that pilot is nuts, in my opinion.    However the investment banking and actuall banking that IB brings in is really huge for the Bank. 

[quote=cutacheck]

specifically to a large team to really infiltrate the book.  

[/quote]

funny

infiltrate.  

BAC will never sell ML.

First off, a brokerage arm is a cornerstone of the long term strategic plan for the Bank. Secondly, that would be an admission that the ML acquisition was a mistake.

BAC's core has always been retail banking. As stocks, bonds, mutual funds have penetrated to the mainstream, a brokerage arm is key to supporting and expanding that business. Not to mention their desire to expand into the HNW and UNHW markets as evidenced by the acquisition of US Trust and ML.

As to admitting that the ML acquisition is in error, (a contention that I do not agree with by the way) I doubt that the CEO or the Board could survive such an admission. And, I honestly don't see any of the players making that statement and committing seppuku at the Annual meeting.

Bottom line, anyone who thinks BAC is going to abandon a multi-year, multi-billion dollar strategy and end up turning ML loose, ever, is living in a dream world. 

[quote=josephus]

BAC will never sell ML.

First off, a brokerage arm is a cornerstone of the long term strategic plan for the Bank.

 As stocks, bonds, mutual funds have penetrated to the mainstream

Not to mention their desire to expand into the HNW and UNHW markets as evidenced by the acquisition of US Trust and ML.

 (a contention that I do not agree with by the way)

I doubt that the CEO or the Board could survive such an admission. 

Bottom line, anyone who thinks BAC is going to abandon a multi-year, multi-billion dollar strategy and end up turning ML loose, ever, is living in a dream world. 

[/quote]

This on list for dumbest post of the year award.

What training class are you in?    get back on the phone

I dont know why BAC would sell of a profitable, high profile division.  I do believe they will screw it up by applying bank metrics like hold backs for cross selling and referrals back the bank.  That slow strangulation over the next few years will piss off advisors and cause them to leave but why sell MER - it's alreaduy acretive (sp?) to earnings...  No one talks about selling off Countrywide - why?  BAC is making money on it...

[quote=Jennifer Nettles]

This on list for dumbest post of the year award.

What training class are you in?    get back on the phone

[/quote]

Typical troll behavior, respond to any challenge with a personal attack. Or did I bust up one of your cherished illusions? News flash, there's no Santa either.

In any case, I'm done with you. Why don't you run outside and play?