Bank of America 2004 Annual Report Download - page 30

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($ in billions)
($ in billions)
’02 ’03 ’04
$0.9
$1.2
$1.6
’02 ’03 ’04
$3.6
$4.0
$5.9
Global Wealth and Investment Management
(Formerly Wealth and Investment Management)
Global Wealth and Investment Management delivers investment services shaped
by advice and guidance to more than 1.8 million individual and institutional
clients located across the United States and throughout the world. It includes
The Private Bank at Bank of America, which provides integrated credit, deposit,
investment and trust services to more high-net-worth clients than any other bank
in the United States, and Premier Banking, which delivers comprehensive
financial solutions shaped by personal advice to nearly 606,000 affluent client
relationships. It also includes the fast-growing Banc of America Investment
Services, Inc., brokerage with more than 2,100 financial advisors, and Columbia
Management Group, one of the world’s largest asset managers and the provider
of proprietary asset management products to retail and institutional investors.
Global Wealth and Investment Management has $708.4 billion in client assets,
including $451.5 billion in assets under management, with total average deposits
of $83 billion and average loans of $44 billion.
Revenue*
Net Income
Global Capital Markets and Investment Banking
(Formerly Global Corporate and Investment Banking)
Global Capital Markets and Investment Banking is an integrated corporate and
investment bank that provides issuer clients with innovative, comprehensive
capital-raising solutions and advisory services, as well as traditional bank
deposit and loan products, cash management and payment services. Investor
clients are served by strong equity and debt research, sales and
trading capabilities. All clients benefit from extensive derivative and other
risk-management products. Through offices in 35 countries, Global Capital
Markets and Investment Banking serves domestic and international corporations,
including most of the Fortune 1000; institutional investors; financial institutions;
and government entities. Many of the company’s services to corporate and
institutional clients are provided through its U.S. and U.K. subsidiaries, Banc of
America Securities LLC and Banc of America Securities Limited.
BANK OF AMERICA 2004 29
’02 ’03 ’04
$8.2
$8.3 $9.0
’02 ’03 ’04
$1.6
$1.8
$2.0
Revenue*
*Fully taxable-equivalent basis
Net Income