Three months before bank of america corp.rnbought Merrill Lynch & Co. in September 2008, Stefan Selig, then global head of mergers and acquisitions at Bof A, knew that it might not be the best time for a transformative deal. "The last thing you want to be doing is pursuing a strategic transaction and realize your adviser is worried about their own issues," Selig told an interviewer at the time.rnBofA CEO Kenneth Lewis did buy Merrill, of course, triggering government investigations and shareholder lawsuits stemming from allegedly improper disclosures about bonuses. A string of senior banker defections followed. But Selig, who in July became executive vice chairman for global corporate and investment banking at the combined firm, is undeterred. He believes that BofA-Merrill Lynch's broader reach makes it a force to be reckoned with. It's hard to argue with the numbers. Last year, without Merrill, Bof A ranked just ninth in equity and debt financing by revenue earned and 13th in M&A, according to Dealogic. But this year through September 23, the combined firm ranked fourth in fee revenue for debt financing and fifth in equity financing and M&A. Merrill gave BofA a strong investment banking presence in Europe and Asia, and its IPO platform complements Bof A's legacy high-grade and leveraged loan businesses.
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