What News?
The FT and Bloomberg reported over the weekend that Bank of America/Merrill Lynch has become the biggest wealth manager.
What? Since January when Morgan Stanley and Citi’s Smith Barney were merged, the new JV has been the biggest wealth manager. The source of this apparent OLD news is a research firm in the UK who based their rankings on end of 2008 asset under management. Oh…we all know news can be recycled but shouldn’t this important fact be at least acknowledged?
