In Brief: Carver of N.Y. Starts Venture with Merrill

Carver Bancorp Inc. of New York has agreed to offer investment services through Merrill Lynch & Co. Inc. in two of Carver's 10 branches.

The $661 million-asset Carver, the nation's largest African-American-owned banking company, said Merrill advisers will work at special booths in the two branches starting today. The companies are sharing expenses and revenue in the joint venture.

Deborah C. Wright, Carver's chairman and chief executive officer, said in a press release that the "unprecedented" alliance would give Carver's customers access to the financial expertise they need to build wealth.