Bank of America is the United States largest financial conglomerate providing full range of services all over the world. Though its main activity is focused on the United States, the corporation is represented in many countries being the eleventh world largest company according to Forbes.
The main directions and products of the bank are consumer and corporate servicing, financial and insurance services, investments, mortgage loans, credit cards, private equity and asset management.
Bank of America is headquartered in Charlotte, North Carolina.
Speaking about the Bank of America history, it is necessary to start with October 17, 1904 when Amadeo Pietro Giannini founded Bank of Italy in San Francisco. The new bank’s main objective was to help the immigrants rejected by other banks making the services maximally affordable for people. Amadeo Pietro Giannini’s business was successful, and in 1928 Bank of Italy merged with Bank of America. It was decided to keep the latter one’s name. In 1930, the bank was renamed once again into Bank of America National Trust and Savings Association. Amadeo Giannini kept managing it being a cochairman.
After the 20th century shocks, Bank of America has not just survived, but continues its active work having a portfolio of more than 5000 banking centers and more than 16000 ATMs in 40 countries.
Today, Bank of America’s income is more than $83.7 billion, its total asset value is $2.187 trillion, more than 208 000 thousand employees work for it.
Bank of America’s chairman and CEO is the American businessman Brian Thomas Moynihan.