BoAML realigns FXPB into multi-asset business
NEW YORK – Bank of America Merrill Lynch (BoAML) is integrating its foreign exchange prime brokerage (FXPB) business into a broader multi-asset class prime services operation.
In so doing, BoAML joins Goldman Sachs and Barclays Capital in redirecting resources into more profitable prime services offerings, such as equities and fixed income, as seen over the past 15 months.
BoAML began the effort last year when its acquired the prime brokerage business of Merrill Lynch. The previous year, it had
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