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untries ? About $ trillion total client assets ? As an investment bank, it is a leading global trader and underwriter of securities, a strategic advisor Business Area Merrill Lynch Global Markets amp。 Investment Banking (GMI) Global Private Client (GPC) Business Area GMI(Global Markets amp。 Investment Banking) 45%28%12%7%8%P r i v a t e c l i e n t sC a p i t a l m a r k e tI n v e s t m e n tb a n k i n gP r i v a t e a s s e t s m g tO t h e r sBusiness distribution of GMI Business Area GMI (cont’d) ? 2020, about 216 IPOs and raised $43 billion ? 2020, about 250 IPOs and raised $50 billion ? More consulting fees from underwriting and distribution services? ↑revenue Business Area GPC(Global Private Client) ? Advicebased wealth management services and products to individual clients and businesses ? Support for their financial advisors ? . private banking amp。 investment, global banking, marketing, investment amp。 wealth management, retire