Bank of America 2002 Annual Report Download - page 19

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Adding to the diverse, yet stable mix of our business model is the continuum of services we provide
to corporate and commercial clients. We serve nine out of 10 Fortune 500 companies and nearly
one-third of all mid-size companies in our franchise.
17
BANK OF AMERICA 2002
Global Corporate and Investment Banking. Our GCIB team has been resilient in one of the most
challenging corporate banking environments in recent years, outperforming many investment-banking
competitors. A growing percentage of our most important clients now view us as their lead investment
bank. Both Global Finance and Euromoney named Bank of America “Best U.S. Bank.” Corporate Finance
and International Financing Review recognized us with several prestigious “deal of the year” awards.
Our depth of executive leadership and talent, combined with our capital strength, global positioning
and array of products, are differentiators that contributed to substantial gains in market share in 2002.
According to Thomson Financial, our market share:
• Increased from 2.9% to 5.2% in U.S. M&A transactions
• Grew from 2.4% to 4.1% in U.S. equity and equity-related securities
• Nearly tripled among U.S. issuers of convertible securities
• Increased in U.S. high-grade and high-yield bond underwriting and U.S. asset-backed
securities, categories where we rank in the top five
Commercial Banking. Our team, with approximately 25,000 relationships, has become the predominant
commercial bank in the country. We provide financial solutions to clients with annual revenues of
$10 million to $500 million. We serve as lead bank or primary financial provider for 67% of our clients,
offering traditional credit, capital markets, treasury services and personal wealth management services.
In a tough year for mid-size companies, we realized a 19% increase in Commercial net income.
Among the largest U.S. bank providers of real estate financing for our commercial and corporate clients,
we originate, structure, underwrite and distribute commercial and residential property transactions.
In 2002, capital raised for clients totaled $133 billion. We’re also recognized as a national leader in
affordable housing financing.
Every business needs to keep its focus on its business. Our corporate and commercial bankers supply
the financial expertise and resources so our clients can do exactly that.
Adding to the diverse, yet stable mix of our business model is the continuum of services we provide
to corporate and commercial clients. We serve nine out of 10 Fortune 500 companies and nearly
one-third of all mid-size companies in our franchise.