Bank of America 1998 Annual Report Download - page 24

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No bank serves more mid-sized
companies (annual revenues from
$10 million to $500 million) than we do:
approximately 35,000 coast-to-coast,
many concentrated in the large, fast-
growing metropolitan areas where the
new Bank of America is so active.
Our commercial banking organiza-
tion places more than 1,400 profession-
als in the market. Our associates (like
thousands of others throughout our
company) live and work where their
clients live and work. They have sub-
stantial authority to make decisions.
Lending and treasury management
services have long been — and remain
— the heartbeat of commercial
banking. But today’s clients want much
more. They also want access to capital
raising and all the special services we
can make available through our
unparalleled breadth of capabilities.
In response, we have created a new
investment banking team dedicated
exclusively to commercial clients. We
collaborate with our client to explore
alternate capital sources and the
hedging of interest rate risk. This new
team underscores our commitment to
helping business owners maximize their
1998 Bank of America Summary Annual Report
Our corporate bankers and invest-
ment bankers worked together to
advise Hercules, a Delaware
specialty chemicals company, on a
$3.65-billion financing during a
difficult market to help the
company complete its purchase of
BetzDearborn and fulfill its
strategic objectives. As a result of
its outstanding performance,
Bank of America has become
Hercules’ lead relationship bank.
shareholder value and achieve their
personal goals.
Bank of America also has the
resources to provide unmatched
international services to middle market
companies which, in today’s world, are
more and more dependent on a world
economy… a textile company buying
knitting equipment from an Italian
manufacturer … a temporary services
company expanding into Latin America
… a computer technology company
selling a component to a European
manufacturer. We are there when
business needs us, and we are among
a relatively few banks that can accom-
modate all their needs.
Indeed, that is our goal for all of our
customers, businesses and individuals:
to be the most capable and most
responsive banking company this
country has ever seen.
We approach the 21st century with
the scale and reach that our clients and
customers want. We bring with us the
people and the technology to create new
possibilities and new solutions. And we
have the willpower and confidence to
make the journey.