Bank of America's (NYSE: BAC) deal for Merrill Lynch strikes many as star-crossed at best. It ended the career of then-CEO Ken Lewis and embroiled the company in investigations and litigation. The PR damage was palpable. But in the end, will the deal pay off?

It seems that way. It was the execution that was really botched, that is, some really bad decisions about disclosure and bonuses and the like. The strategic fit was always fairly compelling.

With Brian Moynihan as CEO, the bank appears willing to commit to investment banking and brokerage and finding the synergies that will justify the deal.

In a symbolic victory, Bank of America client accounts were added to Merrill Lynch's broker-dealer system, "giving advisers access to the trading platforms, research and market data that have helped make Merrill brokers more productive than their peers," notes the Financial Times.

Meanwhile, investment banking operations are humming. It ranked No. 1 in underwriting fees in the last quarter. So this may well have a happy ending.

For more:
- here's the article

Related Articles:
Bank of America Merrill Lynch to launch online brokerage
Ex-Bank of America CEO Ken Lewis to stand trial?
Bank of America-Merrill Lynch deal worth it after all?
Bank of America's role in Merrill's big Q4 loss
Shareholders approve Bank of America-Merrill Lynch deal