A titan of the financial world, Bank of America Merrill Lynch was named the “World’s Best Bank” by the industry’s journal Euromoney Institutional Investor in its 2018 Awards for Excellence.
The bank was founded in 1904 by Amadeo Gianni to serve poor Italian immigrants to the US who other banks would not serve. From these beginnings the acorn grew to become a great oak. Today the bank is the world’s 2nd largest after JP Morgan, and serves more countries internationally than any other bank.
Meanwhile, in 2008, Merrill Lynch, a premier investment bank, had grown to become the world’s largest retail broker. It found itself holding huge amounts of the same toxic assets as Lehman Brothers, and slipping down the same precipice. Merrill was saved by Bank of America acquiring it. Together, the combined entity has proven to be the most successful bank / broker merger seen. A key has been the simplification of the business, reducing its number of products from over 1400 to 65.
Bernie Mensah has been instrumental in the bank’s transformation in Europe and its extensive preparations for Brexit. This evening, in conversation, Bernie describes his journey, the bank’s transformation and how he sees the industry evolving.
The conversation with Bernard Mensah will be followed by a Q&A and reception.