BOA Full Form- Bank Of America

What is BOA? The full form of BOA is Bank of America. With its main office located in the Bank of America Corporate Center in Charlotte, North Carolina, and its secondary and investment banking headquarters situated in Manhattan, the Bank of America Corporation is a worldwide financial services holding corporation and investment bank. California's San Francisco was the bank's founding location. By market capitalization, it is the second-biggest bank worldwide and the second-biggest financial organization in the US, behind JPMorgan Chase.

A member of the Big Four banking groups in the US is Bank of America. In direct rivalry with Citigroup, JPMorgan Chase, and Wells Fargo, it handles around 10.73% of all bank deposits in the United States. Investment banking, wealth management, and commercial banking are its main financial services.
In their individual products, Bank of America and Merrill Lynch Wealth Management both hold sizable market shares. As of 2018, the investment bank is regarded as the third largest investment bank globally under the "Bulge Bracket". Its wealth management division is the second largest wealth manager globally, behind UBS, overseeing assets under management (AUM) of US$1.081 trillion.

In terms of commercial banking, Bank of America has operations—though it does not always maintain them—in all 50 US states, the District of Columbia, and over 40 other nations. With 4,600 banking locations and 16,000 automated teller machines (ATMs), 46 million consumer and small business interactions are encompassed by its commercial banking reach.

Diversity and Inclusion at BOA

• Diversity Leadership Councils: Through these councils, the bank promotes peer-to-peer assistance. The councils meet on a regular basis to hear from the management team and outside thought leaders, oversee the diversity commitment, deliberate on ways to enhance sponsorship, advocacy, and retention, address particular barriers to career development, and cultivate client connections.
• Employee Networks: BOA’s 11 employee networks, which have over 180,000 members globally and over 325 chapters, collaborate closely with their leadership councils. Colleagues may enhance their leadership abilities, forge connections with nearby communities, and promote diversity in recruiting with the aid of employee networks. Since the coronavirus began, the average attendance at their virtual events has increased four times a year, indicating a desire for connections.
• External partnerships: BOA strengthens their dedication to diversity and broadens their influence by collaborating with other organizations that are committed to promoting and encouraging inclusion in the workplace, in addition to our leadership councils and employee networks. These organizations include:
• Black Enterprise: Leading source for African-Americans looking to generate wealth, invest, and engage in business; dedicated to developing Black women's programs and activities
• Business in the Community: The biggest business-led membership group in the United Kingdom, Business in the Community is committed to ethical business practices, which include helping to create a competent and diverse workforce for the present and future.
• Hispanic Association: The Hispanic Association on Corporate Responsibility is a leadership development and advocacy group that works to increase the number of Hispanics employed in corporate America.
• Institute for Veterans and Military Families: The first multidisciplinary academic institute in higher education dedicated to improving the lives of veterans and their families in the armed forces
• Latino Corporation: The Latino Corporate Director Association is committed to fostering, assisting, and expanding the representation of Latinos in the United States on company boards.
• Black Accountants: The National Association of Black Accountants is committed to helping black professionals in accounting, finance, and allied business fields take advantage of more opportunities.
• Out & Equal: This is a national group that promotes LGBTQ workplace equality in order to foster a culture of belonging for all.
• The UK's Women in Finance Charter: The Women in Finance Charter was introduced by the British government in 2016 with the goal of increasing gender diversity in the country's financial industry.