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“We are building upon America’s most powerful consumer banking franchise to deliver tailored, relationship-driven services that meet the specific needs of affluent clients nationwide. Customers are responding with increased satisfaction and increased business.”
Brian T. Moynihan, President,
Global Wealth and Investment Management
(Number of client relationships) | Premier Banking & Investments has seen dramatic growth in its client base. |
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For daily banking transactions, Premier Banking & Investments delivers priority service from its Premier Relationship Centers—backed up by the nation’s largest network of banking centers and ATMs and the nation’s most extensive online banking capability. The Centers provide Premier clients immediate telephone contact with specially trained banking professionals. Calls are answered in less than 20 seconds on average, and most questions and banking needs, such as funds transfers and CD rollovers, are responded to during the initial call. If additional help is needed, the Center staff procures it.
And if our customers’ needs become more complex over time, The Private Bank at Bank of America will serve them through its nationwide network of wealth management experts.
Premier Banking & Investments plans to continue growing in key markets across the country, particularly in the Northeast—home to the nation’s largest concentration of personal wealth and to 400 new Premier Banking client managers.
With the “home-field advantage” of Bank of America’s scale and scope and a powerful, industry-leading solution, Premier Banking & Investments is well positioned to propel business growth. The results are already impressive. The revenue from a consumer banking customer grows more than 12% on average during the year he or she becomes a Premier Banking & Investments client, and client retention rates increase significantly. The percentage of clients who rank our service 9 or 10 on a 10-point scale—our measure of client delight—is growing every year. In 2004, three out of four clients with client managers ranked our service 9 or 10.
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