The initiative will help the bank's push for a greener economy through lending, capital raising, advisory and investment services to help low-carbon and other sustainable businesses, Bank of America said.
In February, Bank of America said it would target net-zero greenhouse gas emissions before 2050.
Its owner, China Jianyin Investment (JIC), has asked Bank of America to look for a potential buyer of the business, which has core earnings of about 100 million euros and could be valued at 10-12 times that, they said.
The business is being marketed to buyout firms including PAI, Ardian, Eurazeo, CVC and Cinven, the people said, adding that first-round offers were expected next month.
The data, collected by EPFR before a rise in US real-yields triggered a global stock market correction on Thursday, also showed bond funds attracted $7.1 billion in a 16th straight week of inflows and Treasury Inflation-Protected Securities (TIPS) added $1.3 billion.
Meanwhile investors pulled $5.5 billion out of cash and withdrew $500 million from gold funds.
The bank now expects Brent crude oil to average $60 per barrel in 2021, up from a previous estimate of $50. BofA also forecasts West Texas Intermediate (WTI) crude prices to average $57 a barrel this year.
Brent prices could temporarily spike to $70 a barrel in the second quarter of the year, the bank's analysts said in a note.
According to nearly 90% of respondents in Deutsche Bank's monthly money-manager study.
The cryptocoin hit a record high $40,000 earlier this month, having rallied more than 900% since a low in March and having only just breached $20,000 in mid-December.
Still, the prospect that rising yields will continue burnishing the dollar's attractiveness has given pause to some investors betting on more declines in the greenback.