Photo: Bank of America Corporation

Charlotte, N.C., USA - October 14, 2010

As part of its ongoing commitment to small businesses, Bank of America today announced that it would hire over 1,000 small business bankers by early 2012.

Photo: Bank of America Corporation

"Small businesses play a critical role in driving innovation and growth in our economy, and the steps we're taking at Bank of America will help create more certainty, more confidence and more opportunity for small businesses in all of our markets," said President and Chief Executive Officer Brian Moynihan during his keynote remarks at the Chief Executive Club of Boston luncheon this afternoon.
"Our small business bankers will live and work in the communities they serve, making them uniquely qualified to work with these businesses and provide the best combination of financial services to help them grow."

Brian T. Moynihan, President and Chief Executive Officer, Bank of America Corporation Photo: Bank of America Corporation

Bank of America will expand its small business presence by hiring small business bankers in select banking centers in Dallas, Los Angeles, Baltimore and Washington, D.C., beginning in the fourth quarter of 2010.
Hiring will continue in select locations across the country throughout 2011.

The Bank of America tower, Seattle's tallest building. Photo: Bank of America Corporation

Bank of America small business bankers will provide more personalized attention to small business owners by spending time with them at their place of business and learning more about what their companies do.

Bank of America Plaza, Atlanta's tallest skyscraper (312m/1023f, 55 stories). Photo: Bank of America Corporation

Customers will have convenient access to local small business expertise and a dedicated resource who understands their business.

Small business bankers will consult with small business owners and assess their companies' deposit, credit and cash management needs.

Joe Price, Consumer and Small Business Banking executive for Bank of America. Photo: Bank of America Corporation

"As one of the nation's largest financial services providers, Bank of America is actively engaged in fostering the growth of small business," said Joe Price, Consumer and Small Business Banking executive for Bank of America.
"With the creation of this role, we are responding directly to what our customers have asked for - local small business experts who provide small businesses with the financial solutions necessary to sustain and grow their business."

The Bank of America Tower at International Place, Miami. Photo: Bank of America Corporation

In the first half of 2010, Bank of America has provided $45.4 billion in credit to small and medium-sized companies and is expected to meet or exceed its pledge to increase lending to those businesses by $5 billion in 2010.

Bank of America, Corporate Office Interior Photo: Bank of America Corporation

In addition, Bank of America is the nation's largest investor into Community Development Financial Institutions (CDFIs), with more than $1 billion in loans and investments to 120 CDFIs in 37 states.

Bank of America Stadium, Charlotte, N.C. Photo: Bank of America Corporation

Bank of America also is increasing its spending with small, medium-sized and diverse businesses through a commitment to purchase $10 billion in products and services from those suppliers over the next five years.

Bank of America Stadium, Charlotte, N.C. Photo: Bank of America Corporation

Other efforts to help small businesses include recent improvements to the bank's 2 million small business credit card accounts, such as no rate increases on existing balances, and enhancements to the Advisor AllianceTM retirement plan platform, which serves more than 900,000 people from more than 40,000 businesses.


Bank of America


Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

Photo: Bank of America Corporation

The company provides unmatched convenience in the United States, serving approximately 57 million consumer and small business relationships with 5,900 retail banking offices, more than 18,000 ATMs and award-winning online banking with 29 million active users.

Photo: Bank of America Corporation

Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world.

Photo: Bank of America Corporation

Bank of America offers industry-leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services.

The company serves clients through operations in more than 40 countries.

Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

www.bankofamerica.com  


SOURCE: Bank of America 

Contact:

Don Vecchiarello
Bank of America
1.980.387.4899
don.vecchiarello@bankofamerica.com  


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Joe L. Price

President, Consumer and Small Business Banking, Bank of America Corporation

Joe Price Photo: Bank of America Corporation

Joe Price is president of Consumer and Small Business Banking for Bank of America, and a member of the bank’s executive management team.

He leads a team serving approximately 57 million consumer and small business customer relationships in 32 states and the District of Columbia, through the unrivaled convenience of a domestic retail distribution network of approximately 5,900 domestic banking centers, approximately 18,000 ATMs, nationwide call centers and the leading online and mobile banking platforms.

His responsibilities include products and services that are everyday essentials for customers, such as deposits, credit and debit card, unsecured lending and integrated solutions for Small Business and Mass Affluent customers.

Price also oversees international credit card operations in the United Kingdom, Ireland, Spain and Canada.

Price previously was chief financial officer of Bank of America.
As CFO, Price had responsibility for Finance, Corporate Treasury, Corporate Investments and Investor Relations.

Price has also served as the risk management executive for Global Corporate and Investment Banking, responsible for the management of the credit, market and operational risks associated with the commercial credit portfolio and trading products within GCIB.

In a former role, Price was a member of the Corporate Development team, identifying strategic opportunities for the company.

He has also served as president of Bank of America’s Consumer Finance Group, general auditor for Bank of America, and held other risk management positions within the company.

Price joined Bank of America in 1992 after serving on the bank’s engagement team at PriceWaterhouse.
While at PriceWaterhouse, he was a member of the Financial Institutions National Industry Group specializing in banking and acquisitions and derivatives.

Price serves on the board of trustees of the University of North Carolina at Charlotte, and on the Belk College Board of Advisors at the University of North Carolina at Charlotte.

Price has also been a strong supporter of Habitat for Humanity of Charlotte since the early 90s, serving on its board of directors from 2004 to 2009.

In 2007, he co-chaired the Building Tomorrows capital campaign which raised more than $7 million for Habitat Charlotte.

He earned a bachelor’s degree in accounting from the University of North Carolina at Charlotte.

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Brian T. Moynihan

President and Chief Executive Officer, Bank of America Corporation

Brian T. Moynihan Photo: Bank of America Corporation

Brian T. Moynihan is the president and chief executive officer of Bank of America.
Moynihan was elected to his role by the board of directors on December 16, 2009, and took office on January 1, 2010.
Moynihan also is a member of the Bank of America board of directors.

Moynihan leads one of the world's largest financial institutions.
Bank of America serves individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

The company provides unmatched convenience in the United States, serving approximately 57 million consumer and small business relationships with approximately 5,900 retail banking offices and approximately 18,000 ATMs and award-winning online banking with 29 million active users.

Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world.

Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services.
The company serves clients through operations in more than 40 countries.

Moynihan is a member of the bank’s executive management team.
He chairs Bank of America’s Global Diversity and Inclusion Council.

Prior to his current role, Moynihan led several of the company’s lines of business, including Consumer and Small Business Banking, Global Corporate and Investment Banking, and Global Wealth and Investment Management.
He also has served as general counsel for the company.

Moynihan joined Bank of America in 2004 following the company’s merger with FleetBoston Financial, serving as president of Global Wealth and Investment Management.
Moynihan joined Fleet in April 1993 as deputy general counsel.

Moynihan is a graduate of Brown University and the University of Notre Dame Law School.
He serves on the boards of directors of YouthBuild Boston and the Boys and Girls Clubs of Boston.
He is a former chairman of the Travelers Aid Society of Rhode Island and Providence Haitian Project, Inc.


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