Bank of America

Organizational Profile: intrust of the States Background of the Company bound of America was founded in 1904 by Amadeo Peter Gianni, son of Italian migrants from Genoa Italy, and was originally named bank building of Italy (Gale Encyclopedia of Biography, 2012). money box of Italy underwent organizational transmutation and was later named Transamerica Corporation following its acquisition of banks including East River matter Bank, and later Banca Meridionale starting 1909 (Britannica Encyclopedia, 2012; Gale Encyclopedia of Biography). In 1930, Transamerica Corporation underwent a merger with America National Trust Savings Association, forming what is straightway called Bank of America (Gale Encyclopedia of Biography, 2012). By 1939, Bank of America was considered the biggest banking organization in the United States with over 500 branches and to a greater extent than $6 billion in deposits (Britannica Concise Encyclopedia, 2012; Columbia Encyclopedia, 2012). The Bank of America continued to grow particularly during the post-war period. In 2008, Bank of America acquired Merrill Lynch & Co. Inc., which was then considered the biggest brokerage and wealth commission company (Bruno, 2008). Since then, Merrill Lynch has been one of the pillars of financial growth of Bank of America.

In 2011, Merrill Lynch was awarded five Treasury Management internationalist (TMI) 2011 Awards for Excellence and Innovation TMI is partnered with European Associations of Corporate Treasurers (EACT), a class of national associations which represent treasury and finance professionals from 17 countries in the European Union (EACT, 2009; Bank of America, 2012a). Bank of America has consistently maintained its leadership in the banking industry such that at present, the bank is considered one the four biggest banks in the United States unitedly with JPMorgan Chase, Citigroup, and Wells Fargo and Wells Fargo (Oneil, 2012). In 2011 alone, Bank of America has protracted a total of $557 billion worth of loans to various... If you want to propose a full essay, order it on our website: Ordercustompaper.com

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