Difference between BOFA and BAML??
Maybe this has been answered but, what is considered “Bank of America” and what is “Bank of America Merrill Lynch”?? I’ve seen people with the same job and they list different. And is it true Bank of America is dropping ML. firm wide except for WM?
BOFA is the consumer arm and BAML is the more prestigious arm. So, if you're IB analyst at BOFA then you're deemed as less prestigious, they only cover IB for consumer products. Now, if you're IB analyst at BAML you get all of the best exit. It's like the holy grail of IB. You will get all the MF exits and you're on a fast track to MD. So, when you interview make sure you mention and demonstrate that you're BAML material and not BOFA.
They didn't drop the ML name, it's just not publicized any more. People internally need to know whether you're BOA or BAML material. If you're a BSD then you can use the BAML name. If you're bottom bucket analyst then all of your pitchbook will be in the BOA name
Hope that helps man.
Haha too gold this
They're rebranding BAML as BofA Securities according to my friend that works there
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