COMPREHENSIVE CASES WITH REAL DATA CASE 3.1 BANK OF AMERICA Leading the American Way SPSS Excel Bank of America, headqua

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Comprehensive Cases With Real Data Case 3 1 Bank Of America Leading The American Way Spss Excel Bank Of America Headqua 1 (130.15 KiB) Viewed 47 times

COMPREHENSIVE CASES WITH REAL DATA CASE 3.1 BANK OF AMERICA Leading the American Way SPSS Excel Bank of America, headquartered in Charlotte , North Carolina, is the SPSS Data File Excel Data File largest bank holding company in the United States, by assets, and the Banc of America Investment Services, Inc.). The Private Bank, Family second largest bank by market capitalization. BankAmerica began as Wealth Advisors, Columbia Management Group, and Banc of America Specialist the American Bank of Italy, which was founded in 1904 by Amadeo Bank of America has recently spent $675 million building its U.S. Giannini, and Bank of America still operates under Federal Charter investment banking business and is looking to become one of the top 13044, which was granted to Giannini on March 1, 1927. The bank five investment banks worldwide. Bank of America already has excellent has its roots in two former banks: NationsBank and the San relationships with the corporate and financial institutions world. These Francisco-based BankAmerica. The two merged in 1998 and assumed relationships, as well as a balance sheet that most banks would kill for the name Bank of America. At the time, the merger was the largest are the foundations for a lofty ambition bank acquisition in history Bank of America acquired Countrywide Financial in 2008, giving the bank a substantial market share of the International Operations mortgage business. Bank of America acquired Merrill Lynch & Co. in Bank of America's Global Corporate and Investment Banking spans the 2009. This acquisition made Bank of America the largest financial globe with divisions in the United States, Europe, and Asia. The US. services company in the world. headquarters are located in New York, European headquarters are Bank of America caters its services to individual consumers, small based in London, UK and Asia's headquarters are based in Hong Kong. and midsize businesses, and large corporations with a full range of Bank of America generates 90 percent of its revenues in its banking, investment, asset management, and other financial products domestic market and continues to buy businesses in the United States and services. As of 2011, Bank of America serves clients in more than The core of Bank of America's strategy is to be the number one bank 150 countries and has relationships with 99 percent of the U.S. in its domestic market. It has achieved this through key acquisitions Fortune 500 companies and 83 percent of the Fortune Global As a result of its mergers and acquisitions, Bank of America is now the 500 companies. This publicly traded corporation provides a diversified largest issuer of credit, debit, and prepaid cards in the world based on range of financial and risk management products and services both total purchase volume, as well as the largest consumer and small domestically and internationally through four market segments: business bank in the United States. Global Consumer & Small Business Banking, Global Corporate & Investment Banking, Global Wealth & Investment Management, and Competition International On a national and international level, Bank of America's main compe- tition consists of Citigroup, Wells Fargo, and JPMorgan Chase & Global Consumer and Small Business Banking Company. However, Bank of America also encounters fierce competi- Global Consumer and Small Business Banking (GC&S8B) is the largest tion from regional and local banks all over the country, division in the company, it deals primarily with consumer banking and credit card issuance. The acquisition of FleetBoston and MBNA Marketing Issue and Marketing Research significantly expanded its size and range of services, generating With Bank of America representing so many customers, it needed to about 50 percent of the company's total revenue in 2007. It provide a wider range of services to meet their needs. Bank of competes directly with the retail banking divisions of Citigroup and America's Innovation and Development Team (&D Team) realized that PMorgan Chase. As of 2011, the GC&SBB organization includes the customers wanted different things when it came to banking other more than 6,100 retail branches and more than 18,700 ATMs across than the traditionally designed bank branch. Therefore, Bank of the United States. America conducted a study to understand its consumers, their lifestyles, and potential for customer segmentation in terms of invest- Global Corporate and Investment Banking ment products and service needs. The questionnaire used follows and The bank's investment banking activities operate under the Merrill the data file is provided on the Web site for this book. The outputs Lynch subsidiary and provide mergers and acquisitions advisory and the analyses of this study should help Bank of America carve its underwriting, capital markets, as well as sales and trading in fixed growth plan and its successful implementation income and equities markets. Its strongest groups include Leveraged Questions Finance, Syndicated Loans, and Mortgage Backed Securities. It has Part 1 one of the largest research teams on Wall Street. 1. Discuss the role that marketing research can play in helping Bank Global Wealth and Investment Management of America formulate sound marketing strategies. Global Wealth and investment Management (GWIM) manages assets of institutions and individuals. It is among the 10 largest U.S. wealth 2. Management would like to further expand Bank of America's managers (ranked by private banking assets under management in market share in the consumer market. Define the management- accounts of $1 million or more as of June 30, 2010). GWIM has five decision problem Primary lines of business: Premier Banking & Investments including