Bank of America Corp. (BAC), one of the world’s largest investment banks and financial institutions, serves a broad range of customers, including individual consumers, wealthy investors, large corporations and governments. It operates primarily in the U.S., where it gets the vast majority of its revenue, as well as in dozens of countries around the globe. The company faces a broad array of competitors, including JPMorgan Chase & Co. (JPM), Citigroup Inc. (C), Goldman Sachs Group, Inc. (GS), credit card issuers like Visa, Inc. (V), hedge funds, and private equity firms. The Charlotte, North Carolina-headquartered company expanded from a regional player into a global giant through a series of major acquisitions in the past several decades.
- Bank of America provides financial services to customers including consumers, wealthy investors, institutional clients, and governments.
- The company’s Consumer Banking segment provided the largest share of total revenue in