Company Profile : Bank Of America Corporation Essay example
Bank of America is multinational financial services corporation that serves millions of people across the globe. It is the second largest banking institution in the United States by assets and continues to dominate the commercial banking industry with innovation in technology and cost management. Bank of America has been able to place itself strategically to compete and maintain its market share through a series of mergers and acquisitions. The company’s current position is positive in the constantly competitive banking industry.
Bank of America Corporation known as today is the result of a 1998 merger between NationsBank Corporation and BankAmerica Corporation. After the merger, the holding company took the name of the more known Bank America corporation. Even though NationsBank acquired BankAmerica Corp in the essential deal. The company has over 211,000 employees worldwide including multiple subsidiaries (source). It has its headquarters in the financial district of Charlotte, North Carolina. According to the company website, the bank serves “individual consumers, small- and middle-market businesses, institutional investors, corporations and governments with various banking, investing, asset management and other financial and risk management products and services” (Bank of America Website). The ability to offer a range of services has allowed the bank to grow across the world expanding in different markets to diversify its…