Bank of America 2015 Annual Report Download - page 7

Our ability to meet our customers’ needs the way they want
is resulting in strong organic growth across every consumer
business category — checking, credit cards, mortgages, auto
loans, and deposits — and we are growing faster than the market.
Even as we continue to reduce costs, customer satisfaction is
increasing because we are doing business the way they want us to.
Turning to wealth management, Merrill Lynch and U.S. Trust are
two of the best brands in the wealth management business,
and have the No.  market position across assets, deposits
and loans. As of year-end , our clients had entrusted us
with $. trillion of their money to steward for them. For the
year, our wealth management business had record loan levels,
with loan growth of  percent, and significantly higher deposit
levels. Our financial advisors continued to broaden and deepen
client relationships, providing them strong investment advising
capabilities along with full financial planning.
Total client balance flows in Global Wealth and Investment
Management were $ billion for the year. These businesses
continue to integrate the broad capabilities of our company to
meet client needs, and we continued to invest here, increasing
our number of financial advisors by  percent last year.
For the companies we serve, our Global Banking business
works with virtually every company in the S&P . In many
products and geographies, Global Banking has greater
market share than our consumer business, delivering solid
and recurring profitability.
In , we had strong loan growth of  percent for our
commercial and corporate clients, and strong deposit growth.
We also raised $ billion in capital for our clients last year.
These loans and capital help fuel the real economy in the
U.S. and around the world, helping small, medium and large
businesses grow, add jobs and help families prosper.
Recognizing these businesses we serve are the engines of
the economy, we bring the broadest array of solutions, both
domestic and international, to our clients — capital raising,
lending, cash management, trade financing, currency risk
hedging, lending in local currencies, and more. This helps
companies grow, improve cash flow, and invest for the future.
We remain well-positioned for growth and continue to expand
and invest in our teams to develop new clients and build
new relationships.
Finally, turning to the institutional investors our company
serves, our Global Markets business is one of the most
capable platforms in the world. This business provides capital
to companies necessary for growth, and serves many of the
world’s largest institutional investors who manage savings
and investments through pension and retirement funds. Our
presence and global reach in fixed income and equity products
allow us to provide them access to investment opportunities.
In the past year, we’ve added
more than  business and
commercial bankers across
the U.S., bringing our global
expertise local for each client
to help their companies and
our economy grow. Additionally,
we continue to innovate and
invest in technology to reduce
costs, and importantly, expand
and improve our clients’
experience with us.
We are one of the
largest lenders to large
corporate and midsized
companies and small
businesses. We also have
one of the world’s top-
tier investment banks,
ranked No.  in investment
banking fees in .
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