Bank of America is keeping the Merrill Lynch name and "bull" logo for its wealth management and brokerage business after the 1 January merger, according to media reports.

The bank is reported as saying in a memo that the unit will be known as Merrill Lynch Wealth Management and use the bull logo introduced in 1974.

The Merrill name is firmly linked with its "thundering herd" of brokers and Bank of America believes it has strong recognition within the wealth management and brokerage market.

But the Merrill name will be low profile in other markets: Bank of America said it will call its combined corporate, commercial, investment banking and capital markets operations Bank of America Merrill Lynch and use its "flagscape" logo introduced in 1999.

The bank's US Trust and Columbia Management businesses will hold on to their names.