Bank of America Corp.'s relatively new wealth-management unit for mass-affluent consumers is on target to meet growth goals, despite recent shakeups at the company's broader retail bank.
Since B of A launched Merrill Edge in June 2010, the unit's assets rose 31%, accounts climbed 21% and revenue jumped 75%, according to B of A preferred and small-business segment executive Dean Athanasia. B of A had previously set a program target of increasing customer investments by 10% per year.
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