Message #44 From:
NewsBot Date: March 16, 2007 05:00:00 AM
MER News Merrill Lynch and Carver Bancorp Create an Alliance for Merrill Lynch to Offer Investment Products and Services to Carver Clients and Communities
NEW YORK--(BUSINESS WIRE)--Merrill Lynch (NYSE: MER) and Carver Bancorp, Inc. (AMEX: CNY) today announced an alliance for Merrill Lynch to offer investment products, research, strategies and services directly to residents in communities served by Carver Federal Savings Bank, a unit of Carver Bancorp. In addition, communities served by Carver Federal Savings Bank in Harlem and Fort Greene, Brooklyn will be able to receive one-on-one financial expertise from Merrill Lynch financial advisors based at those Carver branches.
“This unprecedented alliance continues Carver’s history of identifying the unique financial needs of our communities and helping provide our customers with access to the financial products and services they need to create security and build wealth for themselves and their families,” said Deborah C. Wright, Chairman and Chief Executive Officer of Carver.
“As the communities Carver serves evolve economically, Merrill Lynch is superbly well positioned to bring the products, advice and expertise respected worldwide into our neighborhoods. We appreciate Merrill Lynch’s investment in our communities and their commitment to assist our customers to reach their financial aspirations.”
Merrill Lynch will develop and deliver customized financial programs through its products and services, and enable customers to manage and monitor their accounts by phone or online through the use of Merrill Lynch OnLine.
“Carver Bank is an established and well respected institution in the communities it serves throughout New York. We are proud to work with them to provide a new level of wealth management products and services," said Robert J. McCann, Vice Chairman and President of Merrill Lynch Global Private Client. "This alliance provides Carver clients with the global perspective, power and capabilities of Merrill Lynch in their own community branches."
About Carver Bancorp
Carver Bancorp, Inc. is the holding company for Carver Federal Savings Bank, a federally chartered stock savings bank. Carver Federal Savings Bank, the largest African- and Caribbean-American run bank in the United States, operates ten full-service branches in the New York City boroughs of Brooklyn, Queens and Manhattan. For further information, please visit the Company’s website at www.carverbank.com.
About Merrill Lynch
Merrill Lynch is one of the world's leading wealth management, capital markets and advisory companies, with offices in 37 countries and territories and total client assets of approximately $1.6 trillion. As an investment bank, it is a leading global trader and underwriter of securities and derivatives across a broad range of asset classes and serves as a strategic advisor to corporations, governments, institutions and individuals worldwide. Merrill Lynch owns approximately half of BlackRock, one of the world's largest publicly traded investment management companies, with more than $1 trillion in assets under management. For more information on Merrill Lynch, please visit www.ml.com.
Regulatory Notice
Carver Federal Savings Bank and its affiliates are not registered broker-dealers. Brokerage services and investment products are provided solely by Merrill Lynch. Investment products sold by Merrill Lynch are not deposits insured by the FDIC, are not insured or guaranteed by Carver Federal Savings Bank or by any agency of the U.S. government, and may lose value, including principal. Carver Federal Savings Bank and Merrill Lynch are not affiliated.
