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Ken Lewis has last laugh as BofA lands $50bn Merrill

Out of chaos comes order. A new world order in banking to be precise. That is, at least, what Ken Lewis, chief executive of Bank of America, is hoping for following his brave and decisive acquisition of Merrill Lynch. His move is also likely to set off a round of copy-cat mergers as rival firms are compelled to match the scale and power of the new market leader.

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