Bank of America 2001 Annual Report Download - page 26

Download and view the complete annual report

Please find page 26 of the 2001 Bank of America annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 124

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124

24
The Bank of America Asset Management Group is a
powerful contender in the investment and wealth
management industry. We provide individuals, small
businesses and commercial, corporate and institu-
tional clients across the United States and abroad
with new and better ways to manage their financial
lives. Our role as part of Bank of America allows us to
offer clients special advantages of convenience and
access that no competitor can match.
Our private bankers and investment professionals put the
emphasis on creating deep, long-lasting relationships with
clients, and becoming their trusted advisors. We are among the
leaders in many categories, and we are swiftly moving up the
ranks in many more. In 2001 we gained considerable momen-
tum, and with continued investment in the future of our busi-
ness and an intense focus on creating consistent profitability
for our shareholders, we expect that momentum to increase.
Total client assets grew by 8% in 2001, to more than
$460 billion, in a year when many competitors experienced
setbacks. Our Private Bank continues as the nation’s largest,
measured by number of clients; Nations Funds became the
10th largest mutual fund family. Given the economic headwinds
faced by the markets in 2001, these are significant achieve-
ments. In addition, we enhanced our ability to serve our
clients by strengthening our distribution capabilities, devising
new investment solutions and expanding our product offerings.
The opportunity facing the Bank of America Asset
Management Group is sizeable indeed. The demographics
for the affluent and high-net-worth client segments alone are
compelling. U.S. households hold between $16 and $21 trillion
of investable assets, most of it in the affluent and high-net-
worth segments. These client groups are growing rapidly,
>Opportunities
>Access to millions of investors in the fastest-
growing areas of the U.S. and a customer base
that includes 2.3 million affluent households
>A growing network of investment professionals
offering services through locations nationwide
>A full suite of scalable, highly competitive
wealth-management capabilities, including
investment management, financial planning,
trust and estate planning and securities services
>Recent Achievements
>Grew total client assets 8% to more than
$460 billion in a difficult year
>87% of eligible equity and fixed-income fund
assets exceeded the Lipper three-year median
return, and 63% are in the top quartile
>Grew our team of investment professionals
>Deepened our asset allocation and planning
expertise
>Strategies
>In every relationship, strive to earn the role of
trusted advisor to our clients
>Continue to expand our force of investment
professionals
>Become the employer of choice for the best
talent in the wealth management industry
>Bring best-in-class products and provide
world-class service to our clients
Wealth and Investment Management Services >