A PYMNTS Company

Ireland: Bank of America seeks Irish bank merger due to Brexit

 |  July 17, 2018

US investment banking giant Bank of America Merrill Lynch has applied to Ireland’s High Court for permission to merge one of its UK based subsidiaries with a related Irish firm in response to Brexit.

The group seeks to merge Bank of America Merrill Lynch International DAC, with a registered office in Leopardstown in Dublin, with Bank of America Merrill Lynch International Ltd, with a registered office at King Edward Street in London.

Both firms, which provide various banking services, are wholly owned subsidiaries of the US-based investment banking group.

On Monday, July 16, Paul Sreenan senior counsel for the Irish entity told Mr Justice Robert Haughton that the application was being made as a result of the “fallout from Brexit.”

Full Content: The Times

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.