Business Research Paper – Merrill Lynch – Bank of America
Business Research
Business Research
Organizations across the world endure many problems. Some of these problems are financial, productivity, operational and structural issues and poor customer service methods. To alleviate these problems they must analyze and create new methods. Organizations like Merrill Lynch/Bank of America have encountered similar problems with their image. They identify these problems, hypothesize the cause, research current data, and implement a cost-effective change.
Merrill Lynch/Bank of America
Merrill Lynch/Bank of America is one of the worlds largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a complete range of banking, investing, asset management, and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 59 million consumer and small business relationships with more than 6,100 retail banking offices, more than 18,000 ATMs and award-winning online banking with more than 25 million active users. Bank of America offers industry leading support to more than four million small business owners through a suite of innovative, easy-to-use online products and
services. The company serves clients in more than 150 countries and has relationships with 99% of the U.S. Fortune 500 companies and 83% of the Fortune Global 500. Bank of America corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange. Following the combination with Merrill Lynch, Bank of America has become the largest brokerage in the world with more than 15,000 Financial Advisors and approximately $2.2 trillion in client assets. They are a leading provider of global corporate and investment banking services, including commercial lending, global high-yield debt, global equity, and global M&A. In addition Bank of America is a global leader in wealth management, private banking, and retail brokerage and owns approximately 34% of the economic interest in Black Rock, an independent, publicly traded investment management firm.
Specific Problem That Needs To Be Addressed
Merrill/BoA, the bank with a loved and hated reputation, is looking to change its image by searching for an advertising agency to handle their image. Bank of America is the second largest bank in America, but JP Morgan has passed them in assets of $2.289 trillion to $2.219 trillion. The stocks have taken a downward spiral on Wall Street and Main Street; shares were down more than half in 2011 and in 2012. Ultimately its public image and opinion fell drastically.