How Does Bank of America Fulfill the Needs of Its Shareholders Essay - 1

How Does Bank of America Fulfill the Needs of Its Shareholders - Essay Example The researcher states that the Bank of America caters the requirements of individual clients, small business organizations as well as large business corporations with a variety of banking and financial services. The services offered by the Bank of America range from banking, asset management, investing as well as other additional products and services in the financial domain. The Bank of America Corporation offers a broad assortment of financial services and products by means of their numerous banking as well as nonbanking subsidiaries all over the United States of America and in certain parts of the global market. The bank offers its services in six major business divisions, viz. Deposits, Home Loans & Insurance, Global Card Services, Global Banking & Markets, Global Commercial Banking and Global Wealth & Investment Management. As on December 31, 2010, the Bank of America Corporation possessed assets worth $2.3 trillion and revenue values worth $111,390 million. The bank undertook t he acquisition of Merrill Lynch & Co., Inc. on January 1, 2009. Consequent to the acquisition, the Bank of America has become one of the biggest wealth management companies in the globe with almost 19,700 wealth advisors and further 3,000 front-line consumers facing specialized staffs and in excess of $2.2 trillion in customer assets. Furthermore, Bank of America Corporation is the worldwide leading organization in corporate and investment banking as well as trading over an extensive variety of asset classes catering to the large corporations and institutions, governments, and individual clients throughout the world. The Bank of America also provides industry-leading support to around four million people owning small businesses and is the issuer of the highest number of debit cards in the United States of America. It holds the leading position in credit card loans in Europe and possesses the second largest market share for credit offerings in the United States. The Bank of America h as a well-built foothold in the mortgage business sector and is one of the foremost two mortgage service providers and instigators in the US.