BofAML slips in equities
Bank of America Merrill Lynch’s fourth quarter results show a 44% drop in equity issuance revenue from the fourth quarter of 2009, but an 8% boost in debt issuance revenue helped soften the blow. Advisory revenues were down slightly, from $360m to $337m.
In sales and trading, the pattern was similar, with FICC revenue up 42% and equities down 17%, leaving total levels up on the year, at $2.59bn against $2.22bn in the fourth quarter of 2009.
BofAMLs global banking and markets division, which includes most investment banking activities, saw a decline
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