Bank of America Corp. history, profile and history video
Bank of America Corp. operates as a bank holding company, which provides banking and nonbanking financial services and products through its banking and various nonbanking subsidiaries throughout the United States and in certain international markets. It operates through five segments: Consumer & Business Banking, Consumer Real Estate Services, Global Banking, Global Markets and Global Wealth & InvestmentManagement. The Consumer & Business Banking segment offers a diversified range of credit, banking and investment products and services to consumers and businesses. Its products include traditional savings accounts, money market savings accounts, CDs, IRAs, noninterest- and interest-bearing checking accounts and investment accounts. The Consumer Real Estate Services segment provides an extensive line of consumer real estate products and services to customers nationwide. Its products include fixed- and adjustable-rate first-lien mortgage loans for home purchase and refinancing needs, HELOC and home equity loans. The Global Banking segment provides a range of lending-related products and services, integrated working capital management and treasury solutions to clients, and underwriting and advisory services. The Global Markets segment offers sales and trading services, which includes research to institutional clients across fixed income, credit, currency, commodity and equity businesses. The Global Wealth & Investment Management segment provides wealth management solutions to a broad base of clients from emerging affluent to the ultra-wealthy. Its services include investment and brokerage services, estate and financial planning, fiduciary portfolio management, cash and liability management and specialty asset management. The company was founded by Amadeo Peter Giannini in 1904 is headquartered in Charlotte, NC.“
“Bank of America heritage
At Bank of America, our heritage is woven into our very name. When our earliest predecessor, the Massachusetts Bank, opened for business on July 5, 1784, the United States Constitution had yet to be adopted. The inauguration of George Washington as the nation’s first President would not take place for another five years.
John Hancock signed the bank’s charter in his role as Massachusetts governor, making it the second bank to receive a state charter and one of only three commercial banks in existence in the U.S. at the time.
Since then, the bank has grown steadily. A series of acquisitions has drawn together several thousand banks, connecting people and resources, and expanding capabilities to benefit customers, clients and communities around the world.
Through the centuries, generation after generation, the financial institutions that are part of our legacy have played a role in development of our nation’s culture and economy. With a commitment to ensuring that our success is linked to that of our customers and our communities, Bank of America continues a proud tradition of innovation, performance and service.”
*Information from Forbes.com and Bankofamerica.com
**Video published on YouTube by “TheStreet: Investing Strategies“
