Over the past four years, Bank of America has secured $10.5 billion in deposits and investments through agreements with various companies, offering financial services to their employees. Since its launch in 2020, BofA’s employee benefits and investing program has attracted over 450 corporate and commercial clients. Aron Levine, BofA’s president of preferred banking, anticipates adding 50 more companies to join the program by mid-year.
The program offers a full suite of workplace financial solutions and services designed to meet corporate clients’ employees’ everyday banking1, lending1, and investment2 needs. These include Financial Life BenefitsTM, a comprehensive suite of financial wellness services, which includes financial education for every stage of life and personalized guidance from dedicated wealth management. The offering also includes a broad range of banking and investing solutions, including a wide selection of personal accounts and credit cards and access to Merrill Lynch’s investment products and services.
In addition, BofA’s Small Business Banking unit provides industry-leading support to more than 3 million small business owners, including more than one million credit card customers. The company also offers a variety of online and mobile banking, lending, and investing tools and services to help small businesses grow.
Founded in Charlotte, North Carolina, BofA is one of the world’s largest financial institutions with assets of $2 trillion and operations around the globe. The company serves consumers, corporations, governments, and institutions through various traditional and innovative financial products and services, including consumer banking, credit cards, corporate and investment banking, asset management, securities brokerage, global markets, and many other domestic and international businesses.
BofA was named to the 2023 Equileap Global 100 for Gender Equality, which recognizes top companies worldwide for their commitment to gender balance in leadership, equal compensation, and diversity policies. BofA was also named to Forbes’ list of America’s Best Employers for New Grads for the sixth year, based on survey responses from early career professionals that measure workplace culture and satisfaction, career advancement opportunities, and pay and benefits.
In 2022, Fortune named BofA a Blue Ribbon Company for appearing on four magazine lists. These included the Fortune 500, Most Admired Companies, 100 Great Places to Work, and World’s Most Admired Companies. In addition, Forbes named BofA as a Best Employer for Diversity and the United States’ Best Bank for Private Banking. Euromoney awarded BofA multiple awards in Wealth Transfer/Succession Planning and Best for Digital. These awards demonstrate the scale of our global capabilities, the quality of our people, and the strength of our client relationships.