The FINANCIAL — Bank of America has announced the successful completion of the cross-border merger of its U.K. banking entity into Bank of America Merrill Lynch International Designated Activity Company (BAMLI DAC) on December 1, following the receipt of all necessary regulatory and court approvals.
BAMLI DAC, headquartered in Dublin, is now the company’s principal European banking entity, operating through branches in Amsterdam, Brussels, Frankfurt, London, Madrid, Milan, Paris and Zurich.
Commenting on the completion of the merger, Anne Finucane, chair of BAMLI DAC, stated: “We are pleased to have worked closely and constructively with our regulators to complete this critical component of our Brexit preparations exactly on schedule and well ahead of the earliest possible date of the U.K.’s exit from the EU. Having marked being in Ireland for 50 years this year, we now employ over 800 people in Dublin dedicated to helping power both the future Irish economy and broader society.”
Bruce Thompson, BAMLI DAC chief executive officer added: “I am delighted that as part of our preparations, we have built a world-class, Dublin-centric BAMLI DAC team, combining both local and international talent. After many months of preparation and having just completed our cross-border merger, we now stand ready to serve our clients seamlessly in their final preparations for Brexit and for the long term.”