A history and strategy of the Bank of America are discussed with the inclusion of an outline. Three sources are cited in the bibliography.
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its future is up for grabs. 2. It is hard to tell how it will fare. B. Size of the Bank and ranking. II. Structure
and Culture A. Hierarchical Structure 1. Chairman Emeritus Hugh L. McColl 2. President and CEO Kenneth D. Lewis 3. Vice Chairman and CFO James H. Hance B. Strategy 1. The
bank has increased online presence. 2. The bank dealt with bad loans in an innovative manner. C. History 1. The original bank was formed in 1874. 2. 1901:
American Trust company 3. 1957: American Commercial Bank 4. 1960: North Carolina National Bank. 5. 1991: NationsBank 6. 1999: Merger between BankAmerica and Nationsbank would form Bank
of America III. Conclusion Bank of America appears to want to outshine all others. In evaluating the strategy of this organization, growth is paramount and using
the most innovative techniques available is what is most significant to Bank of America. However, things have changed and the future is truly up in the air.
Bank of America has been successful thus far, but its future is up for grabs. It is
hard to tell how it will fare because its merger and acquisition strategy is over. First, it pays to note that Bank of America (BOA) is a well known bank
that has a wonderful track record (Smalhout, 2000). In fact, it boasts more deposits that any other bank in the United States and is also a part of the nations
second-largest financial services firm (2000). In fact, by one account, it is only outranked by Citigroup (2000). Bank of America also claims offerings of 34 % ("The Rich," 2002, p.10)