Bank of America Corp. is merging the Quick & Reilly brokerage unit it acquired in the FleetBoston Financial Corp. purchase into Banc of America Investment Services Inc.
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The Charlotte company announced the merger Wednesday.
The new unit will be the ninth-largest U.S. brokerage and the third-largest owned by a bank. It will be based in Charlotte and keep the Banc of America name. It will have more than 2,200 financial advisers and 3,600 Series 6 associates serving clients in 30 states.
Quick & Reilly clients will be converted to the new platform beginning immediately; B of A expects to complete that process by the third quarter of next year.
