Bank of America has announced the successful completion of the cross-border merger of its U.K. banking entity into Bank of America Merrill Lynch International Designated Activity Company (BAMLI DAC) on December 1, following the receipt of all necessary regulatory and court approvals. BAMLI DAC, headquartered in Dublin, is now the company’s principal European banking entity, operating through branches in Amsterdam, Brussels, Frankfurt, London, Madrid, Milan, Paris and Zurich.
Commenting on the completion of the merger, Anne Finucane, chair of BAMLI DAC, stated: “We are pleased to have worked closely and constructively with our regulators to complete this critical component of our Brexit preparations exactly on schedule and well ahead of the earliest possible date of the U.K.’s exit from the EU. Having marked being in Ireland for 50 years this year, we now employ over 800 people in Dublin dedicated to helping power both the future Irish economy and broader society.”
Bruce Thompson, BAMLI DAC chief executive officer added: “I am delighted that as part of our preparations, we have built a world-class, Dublin-centric BAMLI DAC team, combining both local and international talent. After many months of preparation and having just completed our cross-border merger, we now stand ready to serve our clients seamlessly in their final preparations for Brexit and for the long term.”
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,400 retail financial centers, approximately 16,100 ATMs, and award-winning digital banking with more than 36 million active users, including nearly 26 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
John McIvor, Bank of America Merrill Lynch
Phone: +44 (0)20 7995 8347
Victoria Garrod, Bank of America Merrill Lynch
Phone: +44 (0)207 995 4437