The lead managing underwriters were UBS Investment Bank, BofA Merrill Lynch, Citigroup, Morgan Stanley and Wells Fargo Securities.
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"We believe emerging markets have bottomed, " says Ms. Shalett of BofA Merrill Lynch.
This was a valid comparison on December 31, 1998, the date to which BofA Merrill Lynch has retroactively created its new index.
One example, the iShares Global Inflation-Linked Bond Fund ( GTIP), seeks results that correspond to the BofA Merrill Lynch Global Diversified Inflation-Linked Index.
Goldman Sachs , Morgan Stanley, BofA Merrill Lynch and JP Morgan Chase were joint lead managers and 8 other investment banks were co-managers.
The unit, with just over 7, 000 financial advisors, is much smaller than its rivals at MSSB and BofA Merrill Lynch who each claim over 17, 000 FAs.
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So among his mandates is to search out a joint venture with a Chinese securities partner that would allow BofA Merrill Lynch to underwrite IPOs in China.
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"There are a lot of nuances you may be missing by focusing only on style and size, " says Savita Subramanian, head of equity and quantitative strategy at BofA Merrill Lynch Global Research.
But McCann, who joined UBS as head of wealth management in 2009 after his old firm Merrill Lynch was bought by BofA, has been making significant moves to make his smaller army more productive than its competitors.
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BofA has also seen its reputation and balance sheet battered by a controversial Merrill Lynch acquisition and damaging Wikileaks rumors.
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The row over the early payment of bonuses at Merrill Lynch shows yet again that insiders' interests come first (those to BofA staff, however, are likely to shrivel).
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