Bank of America (NYSE:BAC) Hires Merrill Lynch Veterans for Investment Banking Unit

With new regulations cutting into revenue and profits at large banks, it looks like Bank of America (NYSE:BAC) and others are responding by putting more of an emphasis on the investment banking side of the business, which has been the key revenue and profit generator for the banks over the last year.In response to that focus, Bank of America hired back two former Merrill Lynch employees who had left the company before and after they were acquired by BofA.