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4,968,673 132,213,518 30% 52% 19% 100% Total Deutsche Bank without apple" 39,006,7981 21,536,827 24,968,673 85,512,298 46% 25% 29% 100% Menill Lynch Southern Trust Company 7.354.451 1.841.250 31.067.864 40.263.565 Total Merrill Lynch 7,354,451 1,841,250 31,067,864 40,263,565 18% j 5%
328 211,163,548 35% 36% 29% 100% TOTALS - without apple'" 73,841,830 1 30,145,170i 60,475,328 164,462,328 45% 18% 37% 100% i NOTES I a) Morgan Stanley STC account must be transferred by September 18, 2017 131 TD Ameritrade has 50,000 in cash and can be used to trade c) Interactive brokers being setup
owned privately -- hopefully largely by employees... so that the interests of the owners and bankers are aligned," he wrote. David Komansky: Former Merill Lynch CEO, David Komansky, is another former megabank CEO calling for the breakup of "too big to fail" banks, according to Simon Johnson. Komansky told B
those involved in more traditional deposit-taking and working-capital finance makes sense." Phil Purcell: Phil Purcell, former chairman and CEO of MorganStanley, argued in a Wall Street Journal op-ed that the big banks should break their divisions up into separate firms. "These businesses should be spun off
Price Objective Change
integration risks. Upside risks to our price objective are better than expected equity markets, performance, or flows, or an accretive acquisition. Morgan Stanley (MS) We value the brokers based on the relationship between ROE (return on equity} and PB (price to book), which has a high historical correlation. Ou
Page: HOUSE_OVERSIGHT_014385 →charts for the securities referenced in this research report are available at http://pricecharts.baml.com, or call 1-800-MERRILL to have them mailed. LPF&S or one of its affiliates acts as a market maker for the equity securities recommended in the report: AllianceBernstein, Amer Express, Ares Management
Page: HOUSE_OVERSIGHT_014393 →rill Lynch (Taiwan): Merrill Lynch Securities (Taiwan) Ltd., regulated by the Securities and regulated by the Securities and Exchange Board of India; PT Merrill Lynch (Indonesia): PT Merrill Lynch Indonesia, regulated srael Limited, regulated by Israel Securities Authority; Merrill Lynch (Russia): OOO Merrill Lynch
Page: HOUSE_OVERSIGHT_014394 →ate and time of completion of the production of any recommendation in s of covered issuers. BofA Merri ly. Except as otherwise stated in securi | Lynch policies prohibit research analysts from accepting payment or reimbursement for travel expenses the report, for the purpose of any recommendation in
Page: HOUSE_OVERSIGHT_014394 →inancial Conduct Au Lynch Equities (Australia) Limited, regulated by the Australian Securities and Investments Commission; Merrill Lynch (Hong Kong}: Merri Lynch (Singapor hority (FCA) an e) Pte Ltd, regu tion of Canada; a SA, regulated International Incorporated K); d by the Central Bank of the and eligi
Page: HOUSE_OVERSIGHT_014394 →ib India}; and is issued and distributed in Singapore to institutional investors and/or accredited investors (each as d Bank Limited (Merchant Bank} (MLIBLMB) and Merrill Lynch (Singapore) (Company Registration regulated by MAS. Bank of America N.A, Australian Branch (ARBN 064 874 531), AFS License 412901
Page: HOUSE_OVERSIGHT_014394 →602883D respectively}. MLIBLMB and Me errill Lynch Equities (Australia) the Corporations Act 2001. With the exception of BA errill Lynch (Mexico): Merrill Lyne by Comisién Nacional de Va Seoul Branch) regulated by Futures Bureau; DSP Merrill Lynch (India): DS by Otoritas Jasa Keuangan (O, Russian Federation;
Page: HOUSE_OVERSIGHT_014394 →Entities connected to both Merrill Lynch and Morgan Stanley

Jeffrey Epstein
PERSON
George W. Bush
PERSON
Ghislaine Maxwell
PERSON
United States
LOCATION
Prince Andrew
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Marc Rich
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Richard Kahn
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JPMorgan Chase
ORGANIZATION
Donald Trump
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Julie K. Brown
PERSONLeon Black
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Joi Ito
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Bloomberg L.P.
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Alan Dershowitz
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Bill Clinton
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Joe Biden
PERSONDoug Band
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Condoleezza Rice
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U.S. Treasury
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Prince Charles
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