Bank of America’s Secret to Success: America’s Bank Dicks America, Cleans Up in Return

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Bank of America’s Secret to Success: America’s Bank Dicks America, Cleans Up in Return

Oh dear. Really, Bank of America? Really?!

WSJ:

Bank of America Corp.’s shotgun marriage to Merrill Lynch & Co. has produced plenty of ill will, and big profits in real-estate investment banking.

The Charlotte, N.C., bank blew away the competition last year in the business of underwriting stock offerings by commercial real-estate firms. The secret of success: Bank of America leveraged its relationships with real-estate borrowers to generate a flood of investment-banking work, much of it handled by former Merrill bankers who decided to stick around after the securities firm was acquired last year.

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