The History of Bank of America Corporation By Rao Chalasani

With branches across the world and headquarters in New York City, Bank of America Corporation offers numerous financial services to individuals and businesses while aiding various communities. Serving over 57 million clients, Bank of America originated more than 220 years ago.

The financial institution traces its roots to 1784, with the chartering of the Massachusetts Bank. However, it took until the 20th century for Bank of America to become the conglomerate it is today. Some credit the 1920 merging of the San Francisco-based Bank of Italy and the Los Angeles-based Bank of America into BankAmerica as the start of this process. Others go forward several decades, to when North Carolina National Bank purchased several thousand banks across the nation and combined them into a single entity. Regardless, Bank of America remains proud of its history and operates six Heritage Centers throughout the country.

About the Author:

A financial executive for nearly two decades, Rao Chalasani has served with firms such as JPMorgan Chase & Co.; Merrill Lynch & Co., Inc.; and Deutsche Bank AG. Chalasani also functioned as Chief Technology Officer and Risk Strategist Director for the Global Markets Trading Risk Management division of Bank of America-Merrill Lynch.

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