Bank of America
Bank of America - Profile:
Bank of America’s products and services are available in at least 150 countries and it has regular transactions with almost 83% Fortune Global 500 organizations and 99% US Fortune 500 businesses.
It is a part of the Dow Jones Industrial Average and S&P 500 Index, aside from being a Federal Deposit Insurance Corporation (FDIC) member. With regards to revenue it is approximately the 5th biggest company in the US. It occupies the 2nd position among the non-oil companies of the country. Forbes has stated that Bank of America is globally the 3rd largest company.
Bank of America - Short History:
The present day Bank of America was established in 1998 after a merger between the earlier Bank of America and NationsBank. It became a major name in the global investment banking market, besides being the biggest wealth management corporation right now, after it bought Merrill Lynch in 2008.
Bank of America - Market Standing:
Bank of America has almost 12.2 percent of the aggregate banking deposits in the US. Along with Citigroup, Wells Fargo and JPMorgan Chase, it is considered to comprise the Big Four Banks of the US. Its retail banking services account for almost 80 percent of the total US population. Overall, it serves nearly 57 million customers and small business entities. It has almost 18 thousand ATMs and 5900 banking centers.
Bank of America - Leading Office-bearers:
Following are the major office bearers of the Bank of America:
- Brian Moynihan – President and CEO
- Bruce Thompson - CFO
- Charles Holliday – Chairman
- David Darnell – Co COO
- Thuong Nguyen – Strategy Advisor
- Tom Montag – Co COO
Bank of America - Other details:
Bank of America employs almost 288,000 people and it has 4 subsidiaries:
- Bank of America Home Loans
- Merrill Lynch
- Bank of America Merrill Lynch
- US Trust Corporation
Bank of America - Products and Services:
Bank of America deals in a wide variety of products and services that can be classified under the following heads:
- Credit cards
- Mortgage loans
- Consumer banking
- Private banking
- Corporate banking
- Private equity
- Finance and insurance
- Wealth management
- Investment banking
Bank of America - Financials:
- At present the approximate revenues of the Bank of America are 134.194 billion US dollars
- The net income is close to $2,238 billion.
- Its aggregate assets are worth 2.264 trillion US dollars.
- Its total equity is US$ 228.248 billion.
Bank of America - Contact Details:
Following is the contact detail of Bank of America’s headquarters:
Bank of America Corporate Center
100 North Tryon Street
Charlotte, North Carolina, US
Official website: https://www.bankofamerica.com
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Last Updated on : 30th July 2013