Bank of America Merrill Lynch

Bank of America Merrill Lynch (BofA Merrill) has reported today about the enhancements introduced to its wholesale banknotes platform for greater customization and improved functionality. It was also said that this innovation is demonstrating the bank's strong commitment to Global Banknote Services. 

Global Banknote Services service of BofA Merrill provided in more than 75 countries worldwide facilitates the import and export of U.S. dollars and other foreign currencies (more than 120 currencies) for financial institutions and corporates. 

Bank of America Merrill Lynch has chosen former BHP Billiton chairman Don Argus to oversee a new advisory board for its Australian operations. According to a company memo Argus will take a chairman seat at the new Australia Advisory Board, working with the head of the bank's Australian operations Craig Drummond on the strategic and tactical direction of the local business.

Monday next week is set as the day for the launch of a new brokerage by Bank of America Merrill Lynch. The new brokerage called Merrill Edge will target less affluent investors who trade through discount firms like Charles Schwab or E*Trade, a bank spokeswoman said.

Merrill Edge will be serving customers with $250,000 or less in investable assets and will directly rival such online brokerage firms like TD Ameritrade and E*Trade Financial Corp.

Roughly 500,000 existing Bank of America online brokerage clients will be transferred to the new service throughout the summer.

Bank of America Merrill Lynch has cut the expectations for Google, Amazon, eBay and Yahoo. It has cut its price targets and now instead of $685, Bank of America Merrill Lynch has taken the position that Google will just hit $630, more than 8% decline.

Bank of America Merrill Lynch plans to implement electronic bank account management (eBam) technology from IdenTrust to enable its corporate clients to open and close accounts, as well as modify mandates, online, boosting efficiency and cutting costs.

Besides, Bank of America Merrill Lynch also ‘expects’ to join the IdenTrust Trust Network, allowing it to issue interoperable digital identities that can be used around the world.

 Bank of America Merrill Lynch is pleased to announce that it is ready for the launch of SEPA Direct Debits (SDD) on 2 November 2009, which will provide clients with enhanced receivables management across 32 European countries.