Banc of America Securities

What is Banc of America Securities?

Banc of America Securities LLC (BAS), originally an investment banking subsidiary of Bank of America, operated in the equity and investment banking markets – both domestically and internationally – before merging with Merrill Lynch to form Bank of America Merrill Lynch following the acquisition in 2008.

Based in San Francisco, BAS was a registered broker-dealer with the SEC and a member of the NYSE and NASD.

Though not a bank, its name – using 'Banc' – indicated the absence of FDIC insurance for its holdings. High-yield debt underwriting, leveraged finance, and various industry coverage groups, including Healthcare, Consumer & Retail, Global Industries, Media & Telecom, Financial Institutions, Real Estate, and Gaming were among BAS's strong suits.

The firm also catered heavily to Financial Sponsors, particularly private equity firms, by financing leveraged transactions. Its product roster featured M&A senior bankers across industries and a standalone M&A Group for banking transactions across all sectors, complemented by a Transaction Development Group dedicated to spotting and marketing transaction opportunities. Despite leadership changes post-acquisition, with John Thain and eventually Brian Moynihan at the helm, BAS left its mark on the merger forming the combined Global Corporate and Investment Banking enterprise.

BAS's expertise in M&A and Acquisition financing fits its investment range, committing a minimum of $4 million to a maximum of $56 million per investment. These specializations underscore its legacy as a comprehensive financial service provider in M&A and investment banking.