the Volker rule
BofA Merrill Lynch spins off BAML Capital PartnersPosted by RJ and Makay on Apr 21, 2011 |
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In a move to shed non-essential businesses, Bank of America is spinning off BAML Capital Partners, the private equity business it acquired with its 2008 purchase of Merrill Lynch.
BAML held assets valued at $5 billion, which will remain on Bank of America books but will be wound down over the next few years.
