# Merrill Lynch Merrill Lynch is a Bank / Wealth / Trust based in New York, United States. ## Overview - **Organization type:** Bank / Wealth / Trust - **Headquarters:** New York, United States - **Region:** North America - **Address:** 250 Vesey Street, New York, NY, United States - **Founded:** 1914 - **Assets under management:** Undisclosed - **Website:** ml.com - **LinkedIn:** https://www.linkedin.com/company/bank-of-america-business ## Regulatory record - **CRD number:** 7691 - **SEC file number:** 801-14235 - **Registration status:** APPROVED - **Latest Form ADV filing:** 2026-05-19T05:00:00.000Z - **Reports private funds:** No - **Private funds reported:** 0 - **IAPD record:** https://adviserinfo.sec.gov/firm/summary/7691 ## About Merrill Lynch was founded in 1914 by Charles E. Merrill and Edmund C. Lynch, who staked the firm on a then-unfashionable premise: working- and middle-class Americans, given access and advice, would become investors. This orientation toward retail brokerage separated Merrill from the white-shoe partnerships of its era. The firm went public in 1971 and survived a 2008 near-collapse by being acquired by Bank of America in a $50 billion transaction that closed in January 2009, a deal that permanently embedded Merrill as the wealth management and investment banking pillar inside the bank holding company. Merrill's wealth management arm deploys client capital across a broad asset-class mix encompassing equities, fixed income, structured products, mutual funds, ETFs, and alternative investments — including private equity, private credit, and hedge fund offerings delivered through the Merrill Lynch Alternative Investments platform. The firm's investment banking division operates as Bank of America Merrill Lynch, underwriting equity and debt offerings and advising on mergers and acquisitions globally. Coverage spans North America, Europe, Asia-Pacific, and Latin America, with notable transaction history including advisory roles on landmark deals such as the 2008 emergency sale itself. The retail brokerage network exceeds 15,000 financial advisors spread across more than 2,500 US branch offices, complemented by the Merrill Edge self-directed platform launched in 2010. As a division of Bank of America, Merrill does not independently report total client assets; the parent's Global Wealth and Investment Management unit reported $1.6 trillion in client balances as of early 2024, encompassing Merrill, Private Bank, and related channels. The firm's executive leadership shifted in February 2024 when Lindsay Hans and Eric Schimpf were named presidents and co-heads of Merrill Wealth Management, succeeding Andy Sieg, who departed for Citigroup. Philanthropic and foundation services are offered through the Bank of America Private Bank, which shares the Merrill advisor ecosystem and provides grant-making, impact investing, and trust administration for ultra-high-net-worth households. Merrill Lynch's structural differentiator lies in its hybrid architecture: a mass-affluent wirehouse and a bulge-bracket investment bank operating under a single commercial-bank parent. This arrangement means a Merrill advisor can place a client into a structured note originated by BofA Securities, custody the asset at Bank of America, and extend credit against it through the private bank — a closed-loop value chain that independent RIAs and trust companies cannot replicate. Since the 2009 acquisition, the firm has been a regulated bank subsidiary rather than an independent broker-dealer, subjecting it to Federal Reserve capital and liquidity oversight that fundamentally reshapes its risk posture compared to pre-crisis Merrill Lynch. ## Sectors - Wealth Management - Financial Services - Investment Banking ## Offices - Modesto, CA ## People - Charles E. Merrill — Co-Founder - Edmund C. Lynch — Co-Founder - Brian Moynihan — Chairman and CEO, Bank of America - Lindsay Hans — President and Co-Head, Merrill Wealth Management - Eric Schimpf — President and Co-Head, Merrill Wealth Management ## Questions ### How is Merrill Lynch structured inside Bank of America today? Merrill operates as the primary wealth management and investment banking division of Bank of America, which acquired the firm in January 2009. The retail brokerage, Merrill Wealth Management, sits alongside the Bank of America Private Bank and the Merrill Edge self-directed platform under the parent company's Global Wealth and Investment Management unit, while BofA Securities carries the investment banking and capital markets operations. ### What is the scale of Merrill Lynch's advisor network and client assets? Merrill's advisory force exceeds 15,000 financial advisors situated in more than 2,500 US branch offices. Bank of America does not isolate Merrill's client assets; the combined Global Wealth and Investment Management division reported $1.6 trillion in client balances as of early 2024, spanning Merrill, the Private Bank, and related channels. ### Who runs Merrill Wealth Management after the 2024 leadership change? Lindsay Hans and Eric Schimpf were appointed co-presidents of Merrill Wealth Management in February 2024, succeeding Andy Sieg, who left to lead Citigroup's wealth division. Both report to Bank of America's president of Global Wealth and Investment Management, and they jointly oversee the advisor force, branch network, and product platform. ### How did Merrill Lynch survive the 2008 financial crisis? Merrill Lynch faced severe mortgage-related losses in 2008 and was acquired by Bank of America in an all-stock transaction initially valued at $50 billion, announced in September 2008 and closed in January 2009. The acquisition prevented a disorderly failure and converted Merrill into a subsidiary of a systemically important bank holding company with access to Federal Reserve liquidity. ## Related profiles - [Merkin Venture Management](https://altss.com/profile/merkin-venture-management) - [Merritt Capital](https://altss.com/profile/merritt-capital) --- Last updated: 2026-07-06T00:36:11.402Z Canonical page: https://altss.com/profile/merrill-lynch-pierce-fenner-smith Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology