Bank Of America Research Paper

Competition is quickly encroaching on SunTrust’s territory. The financial crisis helped rivals gain more presence in SunTrust’s core markets through key acquisitions. BB&T bank, one of SunTrust’s main competitors, recently increased its presence with its acquisition of Florida-based BankAtlantic. This acquisition increased BB&T’s deposit market share to 6th in the Miami market. (BB&T Corporate Profile)

The largest six publically traded banks in the United States who are FDIC insured account for seventy-eight percent of the market, while the top four account for sixty-eight percent of the market. These top six banks include: Wells Fargo and Company, JPMorgan Chase and Company, Bank of American, Citigroup, US Bancorp, and PNC Financial Services. Wells Fargo, the market share leader, holds over twenty-percent of the market with JPMorgan Chase falling just under twenty percent (Oja, 2015). The top four banks as listed above, accounted for almost half of the revenue, at nearly two hundred and eighteen billion dollars. The top eight banks, of the eighty-one, managed an astonishing seventy-five percent of the total revenue for all banks (Oja, 2015). These other two banks were Branch Banking and Trust Corporation (BB&T) and SunTrust Banks and the total revenue in 2014 were at four hundred and forty-three billion dollars. Specifically, as of 2014, JPMorgan Chase

Wells Fargo is an American multinational diversified financial services company. The company operates throughout the world. It is one of the largest banks in the US in the state of assets. Moreover, Wells Fargo is the largest market capitalization bank in the US. It takes the second category in the field of deposits, delivery of home mortgage services, and delivery of credit cards. The company has its headquarters in Francisco, California. The company has coverage of more than twenty-four states in the US. In every state, it has established its headquarters that act as distribution and storage regions for the company's products and services. The company offers insurance, banking, mortgage, and consumer financing through the sale and distribution of its networks across the US. The advantages of Wells Fargo Company are widely distributed: they have helped it realize a stable market in the United States and around the globe.

Wells Fargo & Company is an international company which deals with banking and financial services. Its headquarters is in Francisco, California and it Hub quarters throughout the country. In terms of market capitalization is the second largest bank in the United States. It is also the third largest banking company in United States in terms of assets.

Bank of America also has a program called Merrill Edge in which consumer can be educated on investments and are able to invest their funds on business ventures as well as retirement. As I searched through the site I was very impressed Bank of America seem to touch base with everything from their history to their values and their they have managed to be very specific and detailed. As far as social media is concerned Bank of America has also shown their interest in utilizing social media to reach out to their consumers they have participated in Facebook, Instagram, Twitter and even YouTube and checking out their social media I noticed that they have used those platforms to educate their consumers letting them know of new programs and giving tips on how to save money and invest their money as well. The banking industry is a virtual component to individual business National and Global Financial well-being.

Bank of America competitive advantage is the share of domestic deposits. They are a firm that has unique set of products and services that may dominate its markets. This type of competitive advantage position can be established even in markets where there is significant technology markets. In my opinion I think Bank of America can survive in both slow and fast cycle markets. Bank of America in slow cycle markets utilizes strategic developments to service the restricted markets to enter into new markets. An example of this is when Bank of America opened their door to social network. Developing a site applicable for small business proprietors to become an affiliate of small business online community, wherein any business can share their remarkable stories to become more interactive. With this strategy development Bank of America analyzed and concluded that the web site will give the firm the opportunity to reach a wider audience. The internet is one of the most powerful tools to make people aware. Bank of America is cooperating with the latest trends to keep providing the best services that will be long term. This influence the long term success of Bank of America in a slow cycle market which maintains stability. (Bank of America,

Today, Wells Fargo is a bank holding company that engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance. Wells Fargo is #5 of the World’s largest Public Companies for 2017, according to Forbes. The company has a market value of $274.4 Billion with 269,100 employees.

Wells Fargo is an international banking company that provides financial services to its customers. As an international, well known company, Wells Fargo is among the many that follow basic business management aspects. For one, Wells Fargo has a competitive advantage over some of the other companies in this type of business. For one, Wells Fargo major advantages is in the retail banking stores. It has one of the highest numbers in stores/spaces and it’s due to its large network allowing Wells Fargo to be a leader in retail banking. Another advantage this company has is the fact that is has had some changes in regulation which has allowed it to increase profits.

Bank of America Corporation, a multinational banking and financial services organization that is the second largest holding company in the entire United States by assets, and the fourth largest bank by capitalization. Headquartered in Charlotte, North Carolina, the banks serves clients in more than 150 countries and has a business relationship with over 99 percent of U.S. Fortune 500 companies and 83 percent of the Fortune Global 400. As of 2010, the bank is the 5th largest company in the United States by total revenue, as well as the 2nd largest non-oil company in the United States, while Forbes listed it as the 3rd biggest company in the world. Its acquisition of Merrill Lynch in 2008 made it the world's largest wealth management corporation. B of A holds about 13 percent of all bank deposits in the United States with a retail footprint that covers about 80 percent of the U.S. population or about 57 million consumers at over 6,000 banking centers making it one of the most powerful banking forces in the contemporary industry (Bank of America, 2011; The Global 2000; Fortune 500).

Bank of America Corporation (BOFA), comprised of Bank of America and Merrill Lynch, is a multinational company that provides financial services to “people, companies, and institutional investors.” (Bank of America's Strategy of Responsible Growth, 2017) In the U.S. BOFA serves all three customer groups, and outside the U.S. BOFA “serves larger companies and institutional investors. This business model simplifies our operations and reduces our risk profile.” (Bank of America's Strategy of Responsible Growth, 2017) Within the three pillar strategy points, BOFA seeks to aid people, companies, and institutions with their financial needs to obtain the largest customer exposure. Personal banking and wealth-management services assist the individual

Ethical Analysis of a Firm: Bank of America Bank of American is an American multinational banking and financial services corporation, founded in 1874, that is headquartered in Charlotte, North Carolina (Intelligent Investor, 2016). According to its website, Bank of America traces its roots back to the Civil War via its heritage bank, The State Bank of Albany (Bank of America, 2016). It is a full service bank offering various banking and financial services for individuals, businesses, investors, corporations, and governments in the United States and internationally through operating 5,100 banking centers, 16,300 ATMs, call centers, and online and mobile banking platforms (Intelligent Investor, 2016). Bank of America was listed by Forbes in

Bank of America is one of the biggest companies with a lot of employees. Bank of America was founded in 1874 known as the Nations Bank till its acquisition of a San Francisco-based Bank of America in which it assumed its current name.

Chase.com's Quest for a Global Web Presence Overview = == == === Chase.com and Chase Manhattan together are an international powerhouse in commercial banking. The bank has been continually growing since the merger in 1955 between The Chase National Bank and The Bank of Manhattan Company; another merger with the Chemical Banking Company of New York in 1996 made Chase the largest bank holding company in the US.

Wells Fargo scored high on Strategic Direction due to their clear strategy of focusing on selling new goods and services to their existing customer base, which is called cross selling. Somehow this strategy has worked for Wells Fargo unlike their competitors. The three banks do not seem to have large international recognition, majority of their business is based in the United States.

Right now I will be talking about their internal strengths and weaknesses. One of the companies main strengths is how Bank of America is the leading market in the United States. This company has always set the standards for other businesses. Bank of America is also an extremely well planned and thought out product and service innovation corporation. But, Bank of America also has its weaknesses such as deteriorating asset quality, declining net interest margins and weak wholesale banking operations. Every business is going to suffer from some weaknesses because no one is perfect nor going to be