11.   Like most other big banks, First Union wanted to offer its corporate clients a single source for loans, securities issues and merger advice.

12.   Long-standing investment banking relationships meant clients turned to Goldman and Morgan Stanley when they wanted to sell securities or required merger advice.

13.   Meanwhile, its business of raising capital and providing merger advice to corporations is just holding its own.

14.   Powell oversaw a group of investment bankers charged with building those relationships with large companies and with providing merger advice.

15.   The bank aims to provide one-stop shopping from mergers advice to acquisition financing for power companies.

16.   Under New York investment banking chief Carter McClelland, BofA Securities is back in the business of selling merger advice and managing stock offerings.