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  • Bank of America Corp. (NYSE:BAC) Merges Banking Units

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    Tuesday Apr. 19, 2011 at 04:10 pm EST
     
    Bank of America Corp. (NYSE:BAC) Merges Banking Units
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    As per reports from TheStreet, Bank of America Corp. (NYSE:BAC) has merged its corporate and investment banking divisions. The merger is part of the Bank of America Corp.'s restructuring, to more closely integrate efficient distribution of products through all client coverage channels.

    Christian Meissner, head of investment banking in Europe, the Middle East and Africa, will run the unit with Paul Donofrio and Michael Rubinoff. Rubinoff and Meissner will lead corporate and investment banking. Donofrio will lead global capital markets, M&A, leading, loan products and treasury solutions. All the executives will report to Tom Montag, president of Bank of America's global banking.
    Shares of Bank of America Corp. (NYSE:BAC) closed at $12.31 below resistance level of $12.48. Major support levels for Bank of America Corp. (NYSE:BAC) below current price are at $11.92, $11.6 and at $11.19. Resistance levels for Bank of America Corp. above current price are at $13.2, $13.64, $14.1, $14.57 and at $15.07. Shares of Bank of America Corp. (NYSE:BAC) are a good buy below $12.

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