Bank of America 2007 Annual Report Download - page 33

Bank of America 2007 31
Global Corporate & Investment Banking
Global Corporate & Investment Banking
(GCIB) provides comprehensive financial
solutions to clients ranging from compa-
nies with $2.5 million in revenues to large
multinational corporations, governments,
financial sponsors, institutional inves-
tors and hedge funds. Services include
bank deposit and credit products; risk
management, cash management and
payment services; equity and debt capital
raising; and advisory services based on
industry expertise and deep knowledge
of client strategies and needs. Investors
benefit from highly rated debt and equity
research, leading-edge sales and trading
platforms, and risk-management expertise
across asset classes.
GCIB serves clients around the world,
providing integrated delivery of our key
range of financial products and services
through client managers and product part-
ners who understand each client’s needs.
Clients include 99 percent of the U.S.
Fortune 500, 83 percent of the Fortune
Global 500 and one in three midsize U.S.
companies. In 2007, Bank of America was
the sixth-largest underwriter of U.S. debt,
equity and equity-related securities. It is
the No. 1 treasury services provider in
the United States and a leading provider
globally. GCIB businesses also include the
leading bank-owned asset-based lender
and the No. 1 provider of financial services
to commercial real estate businesses.
Global Wealth & Investment Management
(GWIM) provides comprehensive banking
and investment services to more than three
million individual and institutional custom-
ers. Clients have access to services from
three primary businesses: U.S. Trust, Bank
of America Private Wealth Management
(U.S. Trust); Columbia Management; and
Premier Banking & Investments™.
Premier Banking & Investments
delivers tailored banking and investment
solutions and personalized, priority service
to affluent clients with investable assets of
more than $100,000. This division includes
Premier Banking and Banc of America
Investment Services, Inc.® (BAI), a full-
service and online retail brokerage.
U.S. Trust provides integrated wealth
management solutions to wealthy indi-
viduals with investable assets of more
than $3 million. U.S. Trust is one of the
leading private banks in the United
States and provides credit, deposit,
investment and trust services, as well
as specialty asset management services.
Columbia Management provides
investment management to institutional
clients and individual investors. This
includes mutual funds, liquidity strategies
and separately managed accounts.
Columbia mutual funds provide a variety
of investment disciplines within equities,
fixed income (taxable and nontaxable)
and cash (taxable and nontaxable). As of
December 31, 2007, GWIM entities man-
aged assets of more than $640 billion.
Clients may also receive products and
services from Alternative Investment
Solutions (AI Solutions), which gives
qualified individual investors and institu-
tions access to hedge funds, private equity
funds and tailored investments. Bank of
America Retirement & GWIM Client
Solutions provides personal and institu-
tional retirement solutions for customers
throughout the enterprise, in addition to
philanthropic management and other
services and products for GWIM clients.
Global Wealth & Investment Management
Revenue
(in billions, fully taxable-equivalent basis)
Net Income
(in billions)
Revenue
(in billions, fully taxable-equivalent basis)
Net Income
(in billions)
’05 ’06 ’07
$19.9 $21.2
$13.4
’05 ’06 ’07
$6.0 $6.0
$0.5
’05 ’06 ’07
$6.9 $7.4 $7.9
’05 ’06 ’07
$2.0 $2.2 $2.1