Bank of America Merrill Lynch’s global markets unit generated a $1.2bn (€836m) net profit in the final three months of 2009 compared to a loss a year earlier on the back of an $8bn revenue swing, as Brian Moynihan delivered his first set of results as new group chief executive.

The US bank today reported its first set of results under new chief executive and president Moynihan, who took over from Kenneth Lewis at the turn of the year.