For the Risk Framework Financial Risk: A potential financial loss could result from the acquisition. For example, value of assets, toxic securities, operational risk. Company Merging Risk: A merger can disrupt operations, increase costs, stress employees, and result in technological incompatibilities and operational differences due to cultural clashes. Customer Relationship/Retention: It is unknown whether or not Bank of America and Merrill Lynch will be able to retain and attract customers after the acquisition. Each company has its own customer base and customer retention strategy. Employee Retention: New structure may cause uncertainty or dissatisfaction among experienced employees. Reputation Risk: Bank of America's reputation may be affected by the acquisition of Merrill Lynch, if Merrill Lynch's earnings could not meet expectations