Bank of America 2010 Annual Report Download - page 4

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To pursue our vision, we have laid out a clear strategy.
We emerged from the economic downturn as a global
financial services company with leading positions in all our
major businesses. We serve one in two households in the
U.S. and operate in more than 40 countries, with nearly
300,000 employees around the world. Despite our global
scale and reach, our strategy is relatively straightforward.
We serve three customer groups: people, businesses of all
sizes, and institutional investors. For each of these groups,
we provide core financial services.
We serve people with a range of financial services, from
secured and unsecured lending, to deposit, checking and
savings accounts. We serve parents who want to help their
children open their first savings accounts, young people
graduating from school and setting up checking and retire-
ment accounts, and the wealthiest families in the world with
complex multigenerational wealth management needs.
We help companies of all sizes grow by helping them
transact, manage their cash, access the debt and equity
markets, and manage the risk of currency and interest rate
fluctuations. We provide strategic advice for transactions
such as public offerings, and mergers and acquisitions.
Our institutional investor clients rely on our research to
identify opportunities to invest wisely and confidently.
We help them execute their transactions and connect them
with the global financial markets through our sales and
trading technology.
No other financial services company has assembled
this breadth of capabilities for all of the customer groups
we serve. And, our capabilities are at or near the top
of the industry in every core financial product and service
we offer.
We provide the full range of these financial services for all
three customer groups in the United States. Outside the
U.S., we deliver corporate and investment banking, global
markets and wealth management services to business
clients, institutional investors and wealthy individuals. Our
Card Services business also serves customers in Canada,
Ireland, the U.K. and Spain.
We run the franchise for every customer in full, delivering all
of the services they may have traditionally sought separately
from a retail bank, a commercial bank, an investment bank,
Customers have many valuable choices for how to bank
with us
— a great base for building any relationship.
By attracting new customers and more business from
existing customers, our deposit balances continue to grow,
topping $1 trillion at the end of 2010.
Brian T. Moynihan, Chief Executive Officer
Bank of America Operating Principles
•฀We฀are฀customer-driven
•฀฀We฀are฀building฀and฀will฀maintain฀a฀fortress฀
balance sheet
•฀฀We฀are฀pursuing฀operational฀excellence฀in฀
both efficiency and risk management
•฀฀We฀will฀deliver฀on฀our฀shareholder฀return฀model
•฀฀We฀will฀continue฀to฀clean฀up฀our฀legacy฀issues
•฀฀We฀will฀be฀the฀best฀place฀for฀people฀to฀work