Profile: Bank of America Corp (BAC.N)
28 Jan 2015
Bank of America Corporation (Bank of America), incorporated on July 31, 1998, is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers, small and middle market businesses, institutional investors, large corporations and governments with a range of banking, investing, asset management and other financial and risk management products and services. Through its banking and various nonbanking subsidiaries throughout the United States and in international markets, Bank of America provides a range of banking and nonbanking financial services and products through five business segments: Consumer & Business Banking (CBB), Consumer Real Estate Services (CRES), Global Wealth & Investment Management (GWIM), Global Banking and Global Markets and remaining operations are included in All Others. The Company’s franchise network includes approximately 5,100 banking centers, 16,300 ATMs, nationwide call centers, and online and mobile platforms.
Consumer & Business Banking
Consumer & Business Banking offers a range of credit, banking and investment products, and services to consumers and businesses. CBB product offerings include traditional savings accounts, money market savings accounts, Certificate of Deposits (CDs) and Individual Retirement Account (IRAs), non-interest and interest-bearing checking accounts, investment accounts and products as well as credit and debit cards in the United States to consumers and small businesses. It also offers a wide range of lending related products and services, integrated working capital management and treasury solutions.
Consumer Real Estate Services
Consumer Real Estate Services provides a line of consumer real estate products and services to customers. CRES products include fixed and adjustable rate first-lien mortgage loans for home purchase and refinancing needs, home equity lines of credits (HELOCs) and home equity loans. CRES services mortgage loans, including those loans it owns, loans owned by other business segments and loans owned by outside investors.
Global Wealth & Investment Management
Global Wealth & Investment Management provides comprehensive wealth management solutions. The Company’s services include investment and brokerage services, estate and financial planning, fiduciary portfolio management, cash and liability management, and specialty asset management. GWIM also provides retirement and benefit plan services, philanthropic management and asset management to individual and institutional clients.
Global Banking provides a wide range of lending related products and services, integrated working capital management and treasury solutions to clients, and underwriting and advisory services. Global Banking’s lending products and services include commercial loans, leases, commitment facilities, trade finance, real estate lending and asset based lending. Its treasury solutions business includes treasury management, foreign exchange and short term investing options.
Global Markets offers sales and trading services, including research, to institutional clients. Global Markets’ product coverage includes securities and derivative products in both the primary and secondary markets. It provides market-making, financing, securities clearing, settlement and custody services globally to institutional investor clients in support of their investing and trading activities. Global Markets also works with commercial and corporate clients to provide risk management products.
All Other consists of asset and liability management (ALM) activities, equity investments, the international consumer card business, liquidating businesses, residual expense allocations and other. ALM activities encompass the whole-loan residential mortgage portfolio and investment securities, interest rate and foreign currency risk management activities including the residual net interest income allocation, gains/losses on structured liabilities.
Bank of America Corp
Bank Of America Corporate Center
100 N Tryon St
CHARLOTTE NC 28255
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