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Bank of America delivered more
products and services to more customers than ever before through collaborative efforts among its business segments in 2005. Client referrals to and from the bank’s Global Wealth and Investment
Management division alone generated more than $25 billion in loans, deposits and investments last year, and Global
Wealth and Investment Management associates helped close more than 200,000 referrals of clients from one
part of the bank to another.
Whether in wealth and investment management or small business or corporate investment banking, our strategy is the same: intensify internal teamwork to raise awareness of our capabilities and serve clients in more holistic ways to develop comprehensive banking relationships.
Most referrals originate from Global Consumer and Small Business Banking, which had relationships with more than 38 million U.S. consumers and small businesses as of
Dec. 31, 2005. When new customers visit any one of 5,873 banking centers in the United States to open a new
account, affluent clients are referred to Premier Banking and Investments, which serves clients with investable assets
between $100,000 and $3 million, or The Private Bank, for those with assets above $3 million. Once these clients obtain access to integrated banking and investment services—including financial and retirement planning and wealth transfer and estate planning—they generally do more business with us as their account balances tend to rise.
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In 2005, Bank of America began to extend its wealth transfer and estate planning services to clients of Premier Banking and Investments, such as Dr. Arthur and Carla Silver, of Atlanta.
Video transcript
One example of how the initiative is working involves a commercial banking client who was about to sell his business for more than $50 million. To provide this client with an end-to-end solution, his banker brought in mergers and acquisition specialists from the Global Capital Markets and Investment Banking division, who helped facilitate the sale. He then tapped the expertise of The Private Bank for presale tax planning and wealth management strategies. Upon selling his business, the client deposited assets from the sale into his Private Bank account.
We offer clients a compelling value proposition: Give us the opportunity and we will provide unmatched convenience and expertise, high-quality service, and a full set of financial products and services delivered as a single relationship. 
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