Who Owns Bank of America Private Bank?

What does Bank of America own?
Bank of America operates four primary business segments: Consumer Banking, Global Wealth and Investment Management (including Merrill Lynch and Bank of America Private Bank), Global Banking, and Global Markets. The company's brand portfolio includes Bank of America, Merrill Lynch, Bank of America Private Bank, U.S. Trust, the Erica AI assistant, and the BofA Rewards loyalty program. The company serves nearly 70 million clients through approximately 3,500 retail financial centers and digital platforms.

Is Bank of America publicly traded?
Yes, Bank of America is publicly traded on the New York Stock Exchange under the ticker symbol BAC. As of February 24, 2026, there were 7,176,682,170 shares of common stock outstanding. The company has been publicly traded since the 1998 merger that created the modern Bank of America, with predecessor companies having public trading histories dating back to the early 20th century.

Who founded Bank of America?
The modern Bank of America was formed through the 1998 merger of NationsBank and BankAmerica. BankAmerica was originally founded by A.P. Giannini in 1904 as the Bank of Italy in San Francisco, serving Italian-American immigrants. NationsBank was founded in 1891 in Charlotte, North Carolina. The combined company adopted the Bank of America name due to its stronger brand recognition and national presence.

Where is Bank of America headquartered?
Bank of America is headquartered in Charlotte, North Carolina, USA. The company has operated from Charlotte since the 1998 merger and maintains major offices and operations in New York, London, Hong Kong, and other financial centers worldwide. The company serves clients through operations across the United States, its territories, and more than 35 countries.

How many brands does Bank of America own?
Bank of America operates primarily under the Bank of America master brand with specialized sub-brands. The main brands include Bank of America (consumer and commercial banking), Merrill Lynch (wealth management and investment advisory), Bank of America Private Bank (premium services for high-net-worth clients), U.S. Trust (trust and estate services), Erica (AI-powered virtual assistant), and BofA Rewards (customer loyalty program launched in May 2026).

Who owns Bank of America?
Bank of America is publicly owned with no controlling shareholder. Institutional investors collectively hold the majority of outstanding shares, with major holders including Berkshire Hathaway, Vanguard Group, BlackRock, and State Street Global Advisors. No individual, family, or private equity firm holds a controlling interest. The company had a market capitalization of approximately $352 billion as of June 30, 2025.

What is Bank of America's revenue?
Bank of America reported revenue of $113.1 billion for fiscal year 2025, up 7% year over year, and net income of $30.5 billion, up 13% year over year. Diluted earnings per share were $3.81, up 19% from FY2024. For Q1 2026, revenue was $30.3 billion (up 7% year over year) with net income of $8.6 billion and EPS of $1.11 (up 25% year over year). Net interest income was $60.1 billion for FY2025 and $15.7 billion for Q1 2026.

What is the Erica AI assistant at Bank of America?
Erica is Bank of America's AI-powered virtual financial assistant integrated into the company's mobile banking app. It helps customers with account management, spending insights, bill payments, and financial guidance. The digital banking platform has approximately 60 million verified digital users, with 80% of consumer households digitally active as of mid-2026. In Q1 2026, 71% of consumer sales were digitally enabled, and the platform processed 4.3 billion digital logins.