Bank of America Term Paper

Bank of America Corporation, a multinational banking and financial services organization that is the second largest holding company in the entire United States by assets, and the fourth largest bank by capitalization. Headquartered in Charlotte, North Carolina, the banks serves clients in more than 150 countries and has a business relationship with over 99 percent of U.S. Fortune 500 companies and 83 percent of the Fortune Global 400. As of 2010, the bank is the 5th largest company in the United States by total revenue, as well as the 2nd largest non-oil company in the United States, while Forbes listed it as the 3rd biggest company in the world. Its acquisition of Merrill Lynch in 2008 made it the world's largest wealth management corporation. B of A holds about 13 percent of all bank deposits in the United States with a retail footprint that covers about 80 percent of the U.S. population or about 57 million consumers at over 6,000 banking centers making it one of the most powerful banking forces in the contemporary industry (Bank of America, 2011; The Global 2000; Fortune 500).

Bank of America is known for being a bit of a risk-taking firm. Acquisitions make up a large part of the past for the organization. Prior to the financial crisis in the early 2000’s, Bank of America acquired FleetBoston Financial in 2004, MBNA in 2005, and ABN AMRO North America and LaSalle Bank Corporation after that. The acquisitions provided advantages to set the organization apart from the competition. They were able to become a major player across the world and became a major credit card issuer as well.

Bank of America (BOA) is a multinational banking and financial services corporation, headquartered in Charlotte, North Carolina. The History of BOA starts in 1904 when Amadeo Pietro Giannini opened the Bank of Italy in San Francisco. In 1930 it merged with Bank of America of California, and that is when it gained its name. In 1968 this Corporation was organized in Delaware as a holding company for Bank of America National Trust and Savings Association and other financial subsidiaries. In1983 BOA merged with the biggest Washington state bank “Seafirst Corporation”, which was the largest United States interstate bank. BOA purchased their biggest competitor in California, (the Security Pacific Corporation) in 1991. On 1998 Nations Bank acquired

The company has been in operation since 1864, with numerous financial operations under its belt. The company sold its banking business in 2002 and has since focused on money management.

     During the course of its 220 year history, The Bank of New York has seen its country go through some turbulent times, seven wars, ten economic depressions and the World Trade Center disaster. The bank has survived these entire crises and has come out even stronger owning to a commitment of certain shared and enduring values - Integrity, Respect, Personal Responsibility, Teamwork and Excellence - and a firm focus on the needs of their clients. These core values formed the foundation for everything they do.

Bank of America is the company I elected to discuss their unique benefits package. Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 58 million consumer and small business relationships with more than 5,900 retail banking offices, more than 18,000 ATMs and award-winning online banking with nearly 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate

Bank of America is a global financial services company headquartered in Charlotte, NC. It is one of the world’s largest financial institutions. Bank of America serves over 53 million customers. They serve these customers through 5,500 retail banking offices. Bank of America is known as a leader in the online banking world. Online alone the company services 30 million active users. The company serves customers in all 50 states and more than 40 countries. The company has numerous different lines of business and employs over 260,000 people. (Bank of America 2012)

- Is based in Hong Kong, where the bank’s business has been physically conducted, and with a large network of branches in Asia, a very large London branch office, and several US branches, plus a subsidiary bank in California and a representative office in New York.

Barclay’s over its long history has grown into one of the largest financial groups in the United Kingdom3. Since there early start in banking, Barclays has since then diversified itself into investment banking, and investment management as well. They operate over 850 branches in over 60 countries in which 2000 are based in the United Kingdom3. “The company has over 4.5 million registered online bankers and over 10.6 million Barclaycard customers in the United Kingdom”3. Barclay’s is currently the 7th largest bank in the world with assets valuing $2.41 trillion.

Bank of America is a multinational financial cooperation and a banking institution with its headquarters based in Charlotte, North Carolina. In terms of assets, the bank is ranked the 2nd largest banking corporation in the United States of America and the 26th largest company in terms of total revenue. The bank operates in more than 35 countries with a customer base of more than 47 million clients with 4,500 retail centers in the banking sectors. Its Chief Executive Officer is Mr. Brian Moynihan, who is also the chairman of the Board of Directors (Bank of America, 2017). The bank offers its clients with a variety of services such as asset management, banking, investment, credit and risk management services. This paper, therefore, seeks to explore the current opportunities, potential opportunities, and risks that Bank of America encounters in its business operations in different countries.

Yahoo! Finance is a service from Yahoo that provides financial information in various ways including stock quotes, corporate press releases, financial reports, stock exchange rates as well as popular message boards for discussing a company's forecasts and stock valuations. It holds the title for the top financial news and research website in the United States, with an astounding 23 million visitors in February 2010. It also offers tools for personal finance management. Yahoo! Finance includes similar portals identified to diverse large countries in South America, Europe, and Asia. Yahoo! is one remarkable website that is not only a favorable site for people linked with finance but is fairly easy

Add fixed-rate assets to it books. For example, they could purchase fixed-rate municipal bonds or Mortgage Backed Securities.

(Finansbank) . As you know Wells Fargo is the largest commercial bank in USA. The company was

(Finansbank) . As you know Wells Fargo is the largest commercial bank in USA. The company was

Bank of America is a worldwide banking and financial institution that serves over 35 countries, most commonly located on the Anglo and Latin America clusters. Bank of America has close to 5000 banking location alone in the U.S. and locations in 7 countries of Latin America. “The bank's core services include consumer and small business banking, corporate banking, credit cards, mortgage lending, and asset management. Its online banking operation counts some 33 million active users and 20 million-plus mobile users” (Bank, 2017). The first Bank of America location within the U.S. was in 1904 in San Francisco, California and opened its first Latin America location in Mexico City in 1951. These two clusters have a very diverse culture and factors that affect the banking business in each location. In the U.S. the middle class makes up a majority of the population, while in Latin America most consumers fall below the poverty line, which is a huge factor in the banking business. According to Restuccia’s thoughts in the Latin America development problem (2013), “economic performance in Latin America has often been viewed as the outcome of macroeconomic adjustment, as many economies in the region have suffered numerous economic crises” (p 70). However, Bank of America strives to promote economic growth, helping their employees succeed and create jobs, as well as become mobile and accommodating at every location worldwide.