July 24, 2014 5:07 PM ET

Capital Markets

Company Overview of Merrill Lynch, Pierce, Fenner & Smith Incorporated

Company Overview

Merrill Lynch, Pierce, Fenner & Smith Incorporated offers security brokerage and dealership services. Additionally, it provides investment advisory services. BofA Merrill Lynch, Pierce, Fenner & Smith Incorporated was formerly known as Merrill Lynch Pierce Fenner & Smith, Inc. The firm is based in New York, New York. Merrill Lynch, Pierce, Fenner & Smith Incorporated operates as a subsidiary of NB Holdings Corporation.

One Bryant Park

New York, NY 10036

United States



Key Executives for Merrill Lynch, Pierce, Fenner & Smith Incorporated

Chief Operating Officer
Head of Asia-Pacific (APAC) region
Regional Managing Director of Private Banking And Investment Group's Pacific West Region
Global Head of Intermediary Business
Managing Director of Mid-America Market
Compensation as of Fiscal Year 2014.

Merrill Lynch, Pierce, Fenner & Smith Incorporated Key Developments

Bank of America Corporation Announces Executive Changes

Kim Ruth resigned from Bank of America Corp. shortly after moving to a senior sales management position at Merrill Lynch Wealth Management. Ruth was named southwest market executive for Merrill Lynch Wealth Management in March. The bank has named Ben Prince to replace Ruth as Southwest Region executive. Prince currently oversees a complex of Merrill branches with 170 brokers in the San Francisco area and will relocate from Northern California to Los Angeles in his new position.

Apple Hospitality REIT, Inc. Engages Merrill Lynch, Pierce, Fenner & Smith Incorporated as its Financial Advisor

Apple Hospitality REIT Inc. has engaged Merrill Lynch, Pierce, Fenner & Smith Incorporated as the company’s financial advisor to assist it in reviewing and evaluating various strategic alternatives, including a possible merger, sale or listing of the company. The company cannot provide assurance that it will complete any of these strategic alternatives and has not set a timetable to take any of these actions. The company does not expect to announce or comment on developments with respect to this exploration of strategic alternatives until the Board of Directors has approved a specific alternative or has other reason to comment.

American Realty Concludes Strategic Alternatives

American Realty Capital Healthcare Trust, Inc. (ARC Healthcare) concludes strategic alternatives. ARC Healthcare announced that its Board of Directors has determined it is in the best interest of ARC Healthcare's stockholders to proceed to file an application to list its common stock on a national stock exchange under the symbol "HCT," and anticipates that its common stock will be listed on such exchange in the first quarter of 2014. This action, made in consultation with ARC Healthcare's financial advisors, BofA Merrill Lynch, Pierce, Fenner & Smith Incorporated and RCS Capital which is consistent with ARC Healthcare's previously announced decision to examine its strategic alternatives in line with its long-term business strategy. This decision is the result of a process begun in the spring of 2013 by ARC Healthcare's Board of Directors to evaluate possible strategic alternatives designed to maximize stockholder value. Thomas P. D'Arcy, Chief Executive Officer of American Realty Capital Healthcare Advisors, LLC, offered, "Our management team has worked hard and long to build the best portfolio of healthcare real estate assets. We have purchased these properties at the right time in the real estate cycle, buying strong locations around the nation with creditworthy tenants, and have built a diversified pool of medical office buildings, hospitals and senior living facilities. We believe the public traded markets will be very receptive to an offering of this sort." Nicholas S. Schorsch, Chairman and Chief Executive Officers of ARC Healthcare, added, "In our view, Tom D'Arcy is the ideal executive to lead ARC Healthcare on to an exchange. He has been a NYSE CEO previously, and therefore has a deep understanding of what behaviors the market rewards and what he will need to do to deliver stockholder value."

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