The bank was founded by the merger of NationsBank and Bank of America in 1998. Historically, Bank of America, formerly known as the Bank of Italy, was founded in San Francisco, California, United States, on October 17, 1904, by Amadeo Pietro Giannini. It is the second-largest banking institution in the United States and the second-largest bank in the world by market capitalization, both after JPMorgan Chase.
The bank provides services in wealth management, corporate and investment banking, and trading. Bank of America Corporation is the parent company of several major subsidiaries involved in banking and financial services, including Merrill Lynch & Co., Bank of America National Association, FIA Card Services, and Merrill Lynch Pierce Fenner & Smith. Bank of America maintains operations in more than 35 countries.
Bank of America Corporation annual revenue was $188.75 B in 2025 and annual net income was $30.63 B in 2025. As of December 31, 2025, Bank of America has 213K employees.
Recent leadership news
At its 2026 Annual Meeting of Shareholders held on May 4, 2026, Bank of America shareholders re-elected all director nominees, endorsed the non-binding advisory vote on executive compensation, and ratified PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2026.
Facts compiled by Executive Moves from publicly available news and press releases on 22 May 2026. Spotted an inaccuracy? Email us and we'll review within 1 business day.
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