Welcome to Bank of AmericaChen chao,BA 0901ContentsContentsnBank of America profile nBank of America business situation nOrganization and management mode nBank of America enterprise culture nBank of America the bank on the net nThe service characteristics of bank of America nBank of America dynamic news Bank of America profile In August, 2002, the first big Bank American Bank of America (Bank-America Corporation, full name is the American national trust savings Bank, hereinafter referred to as Bank of America) in the Chinese mainland Chinese registered American Bank of America officially changed to Bank of America. From now on the bank in the global unified use this everybody else. At the same time, the banks legal status and its English name remain unchanged. Bank of America explain the cause, bank of America said in Beijing in 1981 to open the first representative office, it was worried about the public may mistake bank of America for the U.S. central bank, so use the bank of America the Chinese name. Now reverted to bank of America will no longer have to ambiguity. Bank of America is California a single bank consortium control holding company. Founded in October 7, 1968. Headquartered in San Francisco. On 1 April 1969, bank of America became the companys subsidiary of bank of America, all for the equity control. Bank of America is the predecessor in 1904 by the Italian immigrants Italian bank was founded. Main business early Pacific coast state of Italian immigrants business of storage, absorbed gradually lower classes after the deposits, and small and medium-sized enterprises to provide mortgage and issuing of consumer credit, business developed rapidly. In the 1920 s, the Italian bank has become the largest bank in the western United States. On March 1, 1927, the bank of Italy to the national trust savings bank name made national bank license. In 1929, California and bank of America, the national trust America merger name savings bank. Two lines after the merger strength increasing. The second world war, California is the important arms production center, war to bank of America bring huge profits. After the war, California become the plane, missiles, the rockets and space weapons industry, the main production base for bank of Americas financial activities provided extremely advantageous condition, speed up the banks expansion. For strengthening competition, bank of America from the service areas and actively expand the business market diversification aspects, absorbs the domestic and foreign deposits, and strongly to foreign expansion, assets further expand. The bank of the property and deposit, long-term to commercial Banks in the United States are accounted for the first until 1980, citigroup, pushed by more than the second. Bank of America is the emerging post-war California consortium financial core. In order to adapt to the competition and development needs, in April 1969 established a single bank holding company-bank of America corporation. Bank of America and bank of America, is the supreme authority of the two common established a board of directors. The board of directors has execution, audit and check, comprehensive trust, public policy, employee benefit audit, personnel working remuneration execution, nominations committee. Bank of America and their management committee and management consultants council. By the end of 1982, bank of America in the domestic and foreign branch has 1204, affiliates and league branch agencies about 800, in addition in foreign and company bank specializing in the orgnaization of business of 27 and representative offices. Overseas institutions in 77 countries and regions. Bank of America for universal primary financial services one for the United States, the second largest bank, is committed to providing chock-full of personal and commercial banking services, and provides services in the United States the 21 states, the district of Columbia and over 30 countries, for as many as thirty-three million families and two million five hundred thousand commercial customers with the most high-quality perfect banking services. In the United States, the United States has a five thousand eight hundred the bank branches and more than sixteen thousand in the automatic teller machines, to provide comprehensive service. This enterprise during the 2007 fortune global companies five largest list at number, 21 in the weekly barron published in the 2006 annual global 100 big companies respected among the list of 33. Bank of America business situation Main business activities into three most: 1, retail banking business. Main business is for the individual, the enterprise of business of storage, key in California; 2, international business; 3, other financial business, mainly including: to the consumer the financial services, lease, venture capital, travelers checks, mortgage and consumer credit insurance, etc. Bank of America company funds use main is issuing credit at home and abroad. Domestic lending business loans, mainly including agricultural loans, real estate loans, consumer credit and other loans. On foreign loans is mainly to the foreign government and the official organizations loans, inter-bank loans and other financial institutions to the loans, commercial and industrial loans, etc. The company funds use of another channel is the securities investment and securities lending. The main investment from the federal government, federal agencies and state and local government bonds. The companys rental business is developing fast, but also pay attention to development trust business. Bank of America, as its, the business income of 85% from the United States. Bank of America has the largest national retail network service in a personal customers and small enterprise, there are more than 5700 retail bank office. More than 17000 of ATM machines and has 21 million users of the bank on the net, its giant branch network covers almost all the big cities of the population. Bank of America or Americas small business credit bank and leading to the minority of open small enterprise provide loans to Banks, and almost all of the United States and fortune 500 enterprises and 80% of the worlds top 500 enterprises to establish a business relationship. In recent years, bank of America on one hand in the nationwide established and developed 1 million hundreds of thousands of millions of argues relations; On the other hand, through several large-scale merger realized the fast expansion: 2004 merger futura Boston financial company, and in June, 2005, the contribution of the China construction bank, 30 June 2005 $35 billion acquisition of the worlds largest independent credit card issuer-the United States believe bank (MBNA). Bank of America will core business is divided into four basic business unit: individuals and small businesses, large company business with the organization of financial services, capital market and investment bank, wealth and investment management business. Among them, the individual and small businesses that retail business unit is business bank of Americas biggest profit a part. Bank of America are engaged in business basically can be standardized. And other bank business choose a very different is, and especially its rival citigroup, bank of America is not advocated to personalized business, because it thinks, although personalized business can bring great rewards, but the risk is also huge. Organization and management mode Bank of America owns a run of good organization and management mode. First from the whole structure look, in addition to the above four block the core business, bank of America also has technology, risk, strategic planning, personnel, marketing, product development and quality, finance and other seven support department. The division of responsibilities to departments and business as a unit, each business unit adopts vertical management; Secondly, bank of America in the head office of each level, under does not have a comprehensive a centralized management institutions, but by each business unit or according to the circumstances of each team set, each other and not mutually membership but cooperative relationship. For example, is called the shop (store) bank of America of a line network belonging to individuals and small businesses up unit, namely the retail business unit; Third, bank of America at all levels of highly efficient management team. Each layer of the person in charge of the management team is not set up, or, rather, the deputy directly subordinate each team is deputy director of the. Six sigma management mode was originally a product quality control program, and now has a system of the evolution of the business improvement method system, designed to continuous improvement of the enterprise business flow, realize customer satisfaction. Bank of America with the ways to improve the cost, service, sales and even with all aspects of the integration and all the process. Begin from 2001, through three years spending and increase revenue, bank of Americas profit growth tens of billions of dollars, and customer satisfaction rapid ascension. Bank of America enterprise culture Construction bank of America that not only is the bank, the more that he is social builders and customers neighbors, friends, with these concepts to stress they engaged in is not only dealing with money, but also in the work of helping others and social achieve higher goals. With such positioning, bank of America set up a good public image. Higher Standards bank of America is the enterprise slogan. This simple distinct slogan and bank of America usually occur together, in the name of the employee card, licensing, in place of outlets marked place in a variety of publicity materials, even though, in the background of the large conference on the wall, are all red logo, make Higher Standards this idea thorough popular feeling. Bank of America advertised goal is to let its brand like apple computer and Nike sneakers as widely known. Therefore, and usually think the bank brand advertising without tradition of different, bank of America since September 2000 in television, newspapers, magazines and radio on the total value of us $100 million, last more than a year of advertising. Bank of America also through the various plane media, outdoor advertising campaign, especially in some important area at investment, place won the ideal effect. Bank of America the bank on the netBank of America online banking online financial services is the leader of the business of the bank on the net, the won worldwide recognition. Bank of America has the worlds largest online registered users, and won the top financial magazine for the many awards. Bank of America online bank provide service columns quite rich, each section of the branch is also very detailed columns. Online banking services include personal financial services, small business financial services and companies and institutions such as financial services. In personal financial services, bank of America provide online financial products include the basic personal finance most of the traditional business business, its traditional business is in fact in the extension of the Internet. Bank of America online bank provide personal financial services mainly includes: the savings deposit business is divided into two parts, one is the basic business savings. Includes checking accounts, savings, the large amount of deposit, such as individual retirement account services; 2 it is credit card service. Because the us banking competition is intense, bank of America online banking in the main business and other commercial Banks difference. But their efforts to open up new service varieties, one of the most characteristic service is deposit goal and varieties self-help bank. Deposit goal is to help the customer service is formulated savings plan, such as to provide education, marriage, buy a house, retirement, vacation, financing and six americans main expenditure savings plan services. Loans and Credit the service a total mortgage (Mortgages), Credit Card (Credit Card) and Consumer Credit (Consumer and Home Equity Loans), three services products. Among them, the mortgage service is to point to bank of America provide for the customer buys a house assistant (Purchase) and to raise funds (Refinance) two business; Credit card service for bank of America is issued credit card for the description of the system and introduces, at the same time for different kinds of credit card terms introduction and analysis of the content; Consumer loan mainly includes car loans, mortgages, mortgages, personal credit facilities, and student loans and so on many business. In general, the customer when to apply for consumer loans, need to be through the telephone and other means to bank of America customers service center contact, and then you can operate. The Investment Bank Of America individual customer service Investment by Bank Of America Investment service company (Bank Of America Investment Services Inc.) to operate, it provides investors with Investment management and financial consulting Services. In order to let investors faster know the market situation, Investment service project also provide relevant daily economic and financial analysis, mainly including: Discount Brokerage Services (Discount Brokerage Services), and Personal Investment advisory Services (Personal Investment Consulting Services), cash management Account (Money Manager Account) and Mutual Fund Information (Mutual Fund Information), etc. Professional financial services professional financial services is bank of America the most characteristic of the bank on the net, the business of business according to the customers different needs, design meet different needs of the customer service product mix, so as to enhance the customer deal with the financial business efficiency. Professional financial services mainly includes seven specific service varieties: Private Bank (Private Bank), basic financial services (Premier Banking), Student financial services (Student Banking), electronic purse (e-Wallet), Military Bank (Military Bank), Professional African americans Bank (Professional African American Banking Group), America Asia financial services (U.S.-Asia Banking), etc. Insurance of Insurance business Bank of America by Bank of America Insurance service company (Bank of America Insurance Services Inc.) to operate, Insurance service products are two specific content, namely Life Insurance (Life Insurance) and car Insurance (Automobile Insurance). The project mainly includes information service Personal financial Planning tool (Personal Planning Tools), Market Research and evaluation (Market Research & Commentary) and Bank of America internal information (Inside Bank of America), three services products. The service characteristics of bank of AmericaBank of America to dominate the U.S. market in the bank on a firm foothold and the constant development and expansion, and its unique service closely related. First of all, in other bank only pay attention to big business for the service object, bank of America but the general public and small and medium-sized enterprise as the most important customer, roll out at least for $25 only small loans, this is unprecedented. So, once the bank rejected a drive to the people, the business day. Bank of America the mo mo dont think gold and silver broken service mode with customers directly into the distance, improve the affinity, also set up the bank of America with the customers as the center of the public image, so as to promote the development of the banking business. At the same time, facing the United States and the countries with large Numbers of immigrants, bank of America will pay special attention to foreign immigrants as its customers, such as Latin America, Asian, latino immigrants African. Bank of America has a long history of provide for the immigration service, 1928 at Los Angeles opened outlets and even Chinatown equipped with Chinese, Korean, and Vietnamese employee, to attract Asian customers. In the past ten years, bank of America 80% profit growth comes from the above three part of the group. Third, bank of America pay special attention to its customer satisfaction, and often to investigate. Bank of America with customer happy survey to measure customer satisfaction, it is a reflection of the customers are willing to loyal to the bank, is willing to recommend to friends, are willing to use the bank bank the key indicators of more products. Bank of America to the investigation and customer loyalty, customer relations net income growth and sales, compared to predict the future. In addition, bank of America and is a revolutionary banking business: Keep the Change (save zero head). In 2005, bank of America has launched a was the businessweek called paradigm shift (paradigm shift) revolutionary banking: Keep the Change (save zero head). The business operation process is: when customers use bank of America VISA card for consumption, the bank will pay to customers every time brush calorie of consumption of zero head. For example, if the cost $23.36, bank of America will take the $24, and the difference between the two Numbers (i.e., $0.64) pay to the customers savings account. Bank of America to open this business in the first three months of the head of the zero to pay (upper limit for 120 dollars), then head to pay 5% of the total amount of zero. Because the business to customer has a strong allure since launch, so since 25 million, has been applied for customers Keep the Change, more than 700000 customers in America in the bank to open a checking account, and has 10 million customers to open a savings account. For the business, bank of America seem to lose money, but there is no doubt that Keep the Change but success in solving the how to let customers continue to open new checking accounts and savings accounts, and then a stable source of funds this all Banks with the severe problems; Also cultivate customer loyalty, loyalty, bank of America later will earn a lot of income. Bank of America to retail bank in a huge success, and it to exploit its size has very good location with a great relationship. In the U.S. such a people are moving country, it widely retail network make customers through the whole country even also need not change their bank, no doubt for bank of America won the race to the market the initiat; At the same time, bank of America advanced online banking for the age of the Internet to provide people the convenient and fast financial service, this also is bank of America retail banking market success occupy the important reasons. In the final analysis, the rapid development of bank of America and sustained profits from it can satisfy the needs of customers, also just as it came as the product name, shattered has always kept the change, thus become a world-famous retail bank pilot. Bank of America dynamic news In order to spend at the moment the sweep through the us financial storm, has 94 years of history of Merrill Lynch (Merrill Lynch & Co.) Sunday night agreed to the price of about $44 billion to sell itself to Bank of America (Bank of America Corp.). Both sides after 48 hours after the negotiation of a fierce, the deal may be instantly to reshape American banking pattern, let us bank the financial giants much larger. The two companies, the board of directors of the company said Sunday night approved the deal. Transactions will be delivered shareholders and the government supervision authorities for approval. In the bank of America chief executive Kenneth? Lewis (Kenneth Lewis), driven by the bank have been or large dozens of deal earlier this year, including the acquisition of the troubled mortgage companies Countrywide Financial Corp. In the acquisition of the merrill lynch, the company will control after the United States the largest stock broker team, and a respected investment Banks. Both of the merger will create a business a wide range of bank giant, which involves a almost all aspects of the financial sector, all over credit card, auto loans, bonds and stock underwriting, m&a consultation and asset management aspects. The deal also shows that the credit crisis how to give financial condition of solid buyer brought the investment opportunities. The bank of America plan to 29 dollars a share price of $50 billion acquisition of merrill lynch, the price for just one year ago of merrill lynch value about two thirds, only for the market value of the vertex half in early 2007. By Lehman Brothers (Lehman Brothers) face the news of the collapse last Friday, merrill lynch stock down sharply at $17.05, on that day. New Jersey NAB Research LLC analyst Nancy? Bush (Nancy Bush), bank of America said why did you do this? Lewis is always like to do all it can to buy the biggest thing. So he will certainly buy merrill lynch, because you had merrill lynch, is the top of the financial sector. Merrill lynch and bank of America were refused to any negotiations could not be reached for comment. Bank of America merrill lynch acquisition to strengthen global power, including in India and other emerging markets. In addition, merrill lynch in underwriting business also has the very strong strength, and bank of America last week in investors, said congress hope in this field in advance. Thank you!