BofA vs. BAML

just read a post saying there was a difference in cultures between BofA and BAML. I thought they were two different names for the same firm. Can someone explain the difference if this is true, or was it horse shit?

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Technically, there is no more BAML. Under the BofA umbrella, there is "Bank of America" and "Bank of America Securities", which is the new BAML. I would imagine that there is a difference in culture at any universal bank, which has both commercial/retail banking and investment banking. BofA is no different. The starkest difference in culture is in IB groups that have original Merrill Lynch senior from pre-2008.

 

And why would we need that additional letter to make four? Because some people will not be able to recognise that BoA is BAML? Who else is it going to be... Like idc but if we are going to be anal about semantics then why not make it efficient lol

 
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