Last week, Bank of America announced it is selling its Bank of America Merrill Lynch non-U.S. wealth management assets to Swiss bank Julius Baer for around $882 million.
The deal is immaterial to B of A's assets and equity, but it's one more step in the right direction as the company (and its peer Citigroup) are streamlining operations. Fool analyst Anand Chokkavelu explains in the video below.
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