Back in the day, Merrill Lynch used to be called “The Thundering Herd,” a reflection of its heavyweight presence in investment markets.

Armies of Merrill stock jockeys dominated Wall Street and the brokerage business.

Sadly, Merrill nowadays is a much reduced force, locked within the sprawling Bank of America group. It sold off its foreign operations some years back and no longer plays on the international stage.

So, who is the putative new thunderer? Step...