This week, Bank of America will launch a $10 million print and online advertising campaign in the US touting its Bank of America Merrill Lynch division, which consists of global commercial, corporate and investment banking businesses, as well as capital markets operations. The campaign will roll out globally in July.

The bank is not the only firm to be focusing on branding efforts: earlier this year, HSBC Private Bank embarked on a similar marketing push.

The financial crisis has hit the brands of some firms. In its Business Superbrands poll published at the end of February, which establishes the UK’s strongest business brands, the top ranked retail banking brands were HSBC at 60th and Barclays at 107th - falling respectively by 21 and 33 places from a year before - with RBS third at 131st. Analysts say, however, that while firms can save money by economising on marketing and advertising in a downturn, in the medium term, firms which devote time and resources to brand awareness can outperform their rivals.

Bank of America will launch a print and TV campaign later this year, promoting Merrill’s “thundering herd” of financial advisors, under the corporate name Merrill Lynch Global Wealth Management. Signage for the “thundering herd” will continue to feature Merrill’s iconic symbol of the bull.

After the sale of Merrill Lynch to Bank of America last September, there was speculation in the financial industry as to whether Merrill's name would endure.