BofA Merrill Lynch Global Research Named Top Global Broker by Financial Times/StarMine for Second Consecutive Year

NEW YORK, May 19 /PRNewswire/ -- For the second consecutive year, BofA Merrill Lynch Global Research was named Top Global Broker by Financial Times/StarMine. The award recognizes aggregate performance of a broker's recommendations and earnings accuracy relative to local indices and consensus estimates.

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In Developed Europe, the 2010 Financial Times/StarMine survey named Research as the top broker for recommendations and earnings estimates. In addition, Research placed No. 2 in the United States and No. 3 in Pan-Asia. All together, 37 analysts – 15 each in Developed Europe and the U.S. and seven in Pan-Asia – were recognized for their forecasting excellence. Three hundred seventy-five firms participated in the survey.

Candace Browning, head of BofA Merrill Lynch Global Research, commented:  "These awards showcase our ability to positively impact our clients, particularly during times of intense and prolonged market turmoil, through the delivery of value-added, anticipatory and out-of-consensus investment ideas across all regions."

To date, the group has earned the StarMine global award, as well as a total of 11 regional awards and 76 individual analyst awards – confirmation that the analytical skills and insights of BofA Merrill Lynch Research analysts are among the best in the world.

Highlights of the company's 2010 Research rankings include:

• Top Global Broker – Financial Times/StarMine Analyst Awards (May).
• Top Developed Europe Broker – Financial Times/StarMine Analyst Awards (May).
• No. 2 U.S. Broker – Financial Times/StarMine Analyst Awards (May).
• No. 3 Pan-Asia Broker – Financial Times/StarMine Analyst Awards (May).
• No. 1 – Institutional Investor All-Emerging Europe Research team survey.
• No. 3 – Institutional Investor All-Europe team survey for pan-European coverage.
• No. 1 in Developed Europe, Emerging Europe and Latin America for earnings forecasts – Financial Times/StarMine (March).
• No. 2 in Developed Europe for Recommendations – Financial Times/StarMine (March).

In 2009, the team was also named:

• Best Brokerage – Forbes/Zacks; capturing more than twice the awards of the runner-up.
• "Dazzling Dozen" – Forbes/Zacks; seven out of 12 analysts named.
• No. 2 – Institutional Investor All-Brazil Research team survey.
• No. 3 – Institutional Investor All-America Equity, All-Latin America and All-America Fixed-Income Research team surveys.

The goal of BofA Merrill Lynch Global Research is to be the premier global research franchise, providing clients with exceptional service, value-added investment insights and alpha-generating investment recommendations. The Research team provides recommendations on over 3,000 equity securities and 850 corporate bond issuers. The group also provides economic forecasts for approximately 60 countries and recommendations on 40 currencies.

StarMine, a Thomson Reuters company, and Zacks Investment Research are independent firms that measure the performance of brokers and analysts over sets of stocks in two areas: the returns of buy/sell recommendations and the accuracy of earnings estimates. The 2010 Financial Times/StarMine awards are based on the 2009 calendar-year performance of recommendations and estimates on companies that are based in the U.S., Europe and Asia. The Forbes/Zacks survey results reflect the stock picking period from March 31, 2006 through March 31, 2009, and the earnings estimation period from the last three fiscal years of the specific stocks covered by each analyst.

The Institutional Investor 2010 All-Europe Research team survey results are based on responses from more than 1,100 portfolio managers and investment officers at some 500 institutions managing an estimated $5.4 trillion in European equities, and cover the time period March 2009 through February 2010. The Institutional Investor 2010 Emerging EMEA Research team survey results are based on responses from more than 300 buy-side analysts and portfolio managers at 240 institutions managing an estimated $282 billion in emerging EMEA equities, and cover the time period March 2009 through February 2010. 

Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 58 million consumer and small business relationships with more than 5,900 retail banking offices, more than 18,000 ATMs and award-winning online banking with nearly 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, Banc of America Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, which are both registered broker-dealers and members of FINRA and SIPC, and, in other jurisdictions, locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed

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SOURCE BofA Merrill Lynch Research