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Bank of America Corporation Depositary Shares (representing 1/1,000th of a share of Floating Rate No, also called Bank of America (Preferred), is a bank and financial holding company, which engages in the provision of banking and nonbank financial services. It operates through the following segments: Consumer Banking, Global Wealth and Investment Management, Global Banking, Global Markets, and All Other. Read More The Consumer Banking segment offers credit, banking, and investment products and services to consumers and small businesses. The Global Wealth and Investment Management provides client experience through a network of financial advisors focused on to meet their needs through a full set of investment management, brokerage, banking, and retirement products. The Global Banking segment deals with lending-related products and services, integrated working capital management and treasury solutions to clients, and underwriting and advisory services. The Global Markets segment includes sales and trading services, as well as research, to institutional clients across fixed-income, credit, currency, commodity, and equity businesses. The All Other segment consists of asset and liability management activities, equity investments, non-core mortgage loans and servicing activities, the net impact of periodic revisions to the mortgage servicing rights (MSR) valuation model for both core and non-core MSRs, other liquidating businesses, residual expense allocations and other. The company was founded by Amadeo Peter Giannini in 1904 is headquartered in Charlotte, NC.
Charlotte, North Carolina
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Dubai Inc. Debt Distress Emerges as a Risk for Corporate Sector
(Bloomberg) -- Bank of America Corp. warned that “more corporate distress” is possible for some of the debt owed by Dubai government-related companies in case