The Global Wealth and Investment Management (GWIM) unit of Bank of America (BofA) posted net income of $1.05bn for the first quarter of 2019, a 14% increase from last year's figure of $922m. The unit, which is made up of wealth management divisions Merrill Global Wealth Management and Bank of America Private Bank, added $41.5bn to its assets under management in the last year, according to its first quarter earnings. The division's total revenue was $4.82bn, down 1% from $4.85bn in the ...
To continue reading this article...
Join International Investment
Join International Investment today
Unlock members-only benefits:
- Unlimited access to real-time news, industry insights, video features and market intelligence
- Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
- Receive breaking news stories straight to your inbox in the daily newsletters
- Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
- Members-only access to the Editor’s weekly news roundup newsletter
- Members-only access to analysis via our exclusive industry polls
- Be the first to hear about our events and awards programmes
