logo image

Professional Career Development & Management

One should always look to work where his interest lies otherwise its outcome have an extra probability of getting against itself and at times for the organization as well. I always sought to work for a bank, and for that my most preferable choice would be the Bank of America, one of the largest banks of America. Bank of America is that organization which comes as the third largest in America with respect to market capitalization and it the largest bank with respect to the assets. Bank of America is also listed on NYSE (New York Stock Exchange).

Bank of America brief history leads us to the fact that it started in 1904 by Amadeo Giannini who originated Bank of Italy in San Francisco for serving those people who were being neglected by other banks. And then in 1922 Giannini merged with Banca dell’Italia Meridionale, a bank of Italy and then originated the Bank of America and Italy. Later in 1928, Giannini amalgamated with Bank of America Los Angeles and then renamed Bank of Italy to Bank of America which was leaded by him and his other partner Mr.

Orra E. Monnette serving as a co-Chairperson. And then in the upcoming years

Need essay sample on "Professional Career Development & Management"? We will write a custom essay sample specifically for you for only $13.90/page

the bank has to respond differently to different regulations being imposed by different Act of laws. For instance, Bank holding act of 1956 prohibited the banks from acquiring non banking organizations like insurance companies. And then during this period the bank started to offer new products like credit cards in 1958 due to the introduction of new innovative technologies.

Bank of America then aiming to consolidate itself outside California bought Seafirst Corporation of Seattle, Washington and also acquired the Seattle First National Bank in 1983. The next large acquisitions came in year 1992 and 1994 with the acquisitions of Security Pacific National Bank of California and Continental Illinois National Bank of Chicago respectively. In October 1998, the biggest acquisition or merger of that time occurred as Bank of America was acquired by the Nations Bank but the name of Bank i. e. The Bank of America remained the same.

Its recent year acquisitions include merger with Fleet Boston Financial Institution in 2004, merger with MBNA in 2005, merger with LaSalle Bank Corporation in 2007, and the merger with Merrill Lynch & Company in 2008. All these acquisitions indicate that the focal approach of Bank of America was to attain the number one spot among the banks of America in domestic market. Bank of America is offering an extensive range of services in their competitive market. They are providing the core enough services to attract new customers at any time.

The main services being offered by Bank of America includes the checking service, savings service, credit cards, debit cards, mortgage loans, refinancing options, residence equity, automobile loans, money protection and insurance, bill payment facilities, mobile banking , retirement plans, student banking, financial solutions and many other financial and investing services. Bank of America is itself a very large financial institution as it has a very extensive network of branches serving millions of customers inside the country as well as throughout the globe.

They are serving to about 40 foreign countries around the globe. To cater this much amount of market there are thousands and thousands of employees involved and a jagged estimate indicates that Bank of America entails around 284,000 employees. Bank of America covers all the major regions of the country as it has its branches being placed at all important states of the country including some major ones like New York, Washington, San Francisco, Dallas, Las Vegas, Denver, California, Chicago, Los Angeles, Toronto, and Seattle (Bank of America, n. d. ).

The headquarters of Bank of America is situated in North of Carolina. The Bank of America Corporate Centre is the international headquarter of Bank of America. It is a 60 story building and it is the tallest building between Philadelphia and Atlanta. The address of the Bank of America Corporate Center is 100 North Tryon Street, Charlotte, NC 28202.

Read full document

Can’t wait to take that assignment burden offyour shoulders?

Let us know what it is and we will show you how it can be done!
×
Sorry, but copying text is forbidden on this website. If you need this or any other sample, please register
Signup & Access Essays

Already on Businessays? Login here

No, thanks. I prefer suffering on my own
Sorry, but copying text is forbidden on this website. If you need this or any other sample register now and get a free access to all papers, carefully proofread and edited by our experts.
Sign in / Sign up
No, thanks. I prefer suffering on my own
Not quite the topic you need?
We would be happy to write it
Join and witness the magic
Service Open At All Times
|
Complete Buyer Protection
|
Plagiarism-Free Writing

Emily from Businessays

Hi there, would you like to get such a paper? How about receiving a customized one? Check it out https://goo.gl/chNgQy