BofA restructuring shows Merrill spinoff unlikely

US bank is realigning its management team so that its operations are concentrated together under three umbrellas - people, companies and institutional investors

Bank of America, in restructuring its business lines, sent a clear signal to a market rabidly speculating on the bank: Merrill Lynch isn't going anywhere.

The biggest US bank by assets said yesterday it was realigning its management team so that the bank's operations are concentrated together under three umbrellas - people, companies and institutional investors.

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