Bank of America - M&A Summary and Business Overview

Financial ServicesCompany

Bank of America M&A Summary

Bank of America has acquired 12 companies, including 1 in the last 5 years. A total of 2 acquisitions came from private equity firms. It has also divested 16 assets.

Bank of America’s largest acquisition to date was in 2008, when it acquired Merrill Lynch Wealth Management for $50.0B. It’s largest disclosed sale occurred in 2009, when it sold Columbia Management Investment Advisers to Ameriprise Financial for $1.0B. Bank of America has acquired in 8 different US states, and 2 countries. The Company’s most targeted sectors include financial services (75%) and information technology (17%).

Bank of America Business Overview

Where is Bank of America headquartered?

Bank of America is headquartered in Charlotte, North Carolina.

What is Bank of America’s revenue?

Bank of America disclosed revenue of 94,950M USD for 2022 and 89,113M USD for 2021.

How many employees does Bank of America have?

Bank of America has 217,000 employees.

What sector is Bank of America in?

Bank of America is a financial services company.

When was Bank of America founded?

Bank of America was founded in 1784.

M&A Summary

  • M&A Total Activity28
    • M&A Buy Activity12
    • M&A Sell Activity16
  • Total Sectors Invested 3
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 21
  • M&A Advisors 5

Bank of America

Bank of America Corp.

Bank of America Corporate Center 100 North Tryon Street,
Charlotte, North Carolina 28255
United States,
(704) 386-5681
www.bankofamerica.com

Bank of America is a financial services institution serving individual consumers, small- and middle-market businesses, institutional investors, large corporations and governments with a full range of banking, investing, asset management and other financial and risk management products and services. Bank of America was incorporated in 1784 and is headquartered in Charlotte, North Carolina.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.2/yr) # 11 - 1 - - - 12
vol $156.7B $156.7B
Sell (0.0/yr) # 16 - - - - - 16
vol $2.1B $2.1B
  28

Most Recent M&A

Company Date Value Type
Axia Technologies LLC 2021-04-02 - Add-on Acquisition
Santa Barbara, California · www.axiamed.com
Bank of America Corp. - Alternative Investment Feeder Fund Operations 2018-09-18 - Divestiture
Charlotte, North Carolina
MBNA Ltd. 2016-12-20 - Divestiture
Chester, United Kingdom · www.mbna.co.uk
Bank of America - 24 Michigan Branches 2014-09-16 - Divestiture
, Michigan
13 Michigan branches - Bank of America 2014-05-14 - Divestiture
, Michigan
11 branches Central & East Michigan - Bank of America 2014-04-09 - Divestiture
, United States
Bank of America - 23 Retail Branches 2014-01-24 - Divestiture
, United States
Bank of America Corp. - 20 Retail Bank Branches 2013-07-24 - Divestiture
, United States
Bank of America Corp. - Northeast Pennsylvania Branches 2013-07-24 - Divestiture
, Pennsylvania
Bank of America CMBS Servicing Portfolio 2013-05-09 - Divestiture
, United States
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Merrill Lynch Wealth Management    - Elan d.o.o. 2018-12-24 1
New York, New York · www.ml.com Begunje na Gorenjskem, Slovenia · www.elanskis.com
Merrill Lynch Wealth Management    - First Franklin Financial Co, Inc. 2006-09-05 2
New York, New York · www.ml.com San Jose, California
Merrill Lynch Wealth Management    - Pax Clearing Corp. 2005-04-29 1
New York, New York · www.ml.com Chicago, Illinois · www.paxclearing.com

M&A by Sector

Sector Buy # Value Sell # Value
Financial Services 9 (75%) 156.7B (100%) 15 (94%) 1.6B (78%)
Information Technology 2 (17%) - - -
Manufacturing 1 (8%) - 1 (6%) 451M (22%)
Total 12 $156.7B 16 $2.1B

By Geo

State/Country Buy Value Sell Value
United States 11 156.7B 14 1.6B
  California 3 4.0B - -
  New York 2 53.3B - -
  Massachusetts 1 47.0B 1 1.0B
  Michigan - - 2 -
  Kentucky 1 1.4B - -
  Illinois 1 16.0B - -
  Georgia 1 - - -
  Delaware 1 35.0B - -
  Pennsylvania - - 1 -
  Oregon - - 1 -
  North Carolina - - 1 -
Germany 1 - 1 451M
United Kingdom - - 1 -
Domestic 11 (92%) 156.7B (100%) 14 (88%) 1.6B (78%)
Cross-border 1 (8%) - 2 (13%) 451M (22%)
Total 12 $156.7B 16 $2.1B

Top M&A Advisors

Financial Deals
BofA Securities
2
Keefe, Bruyette, & Woods, Inc.
1
Legal Deals
Cleary Gottlieb Steen & Hamilton
2
Wachtell, Lipton, Rosen & Katz
1
K&L Gates
1

Deal Values

buy # Total
> $1B 7 $156.7B
TOTAL $156.7B
Largest Merrill Lynch Wealth Management
$50.0B (2008-09-15)
sell # Total
> $1B 1 $1.0B
$100M to $1B 2 $1.1B
TOTAL $2.1B
Largest Columbia Management Investment Advisers, LLC
$1.0B (2009-09-30)

M&A Connections

Deals
Acquired from
Investor(s)
17%
2 (17%)
Strategic(s)
25%
3 (25%)
Divested to
Investor(s)
6%
1 (6%)
Strategic(s)
94%
15 (94%)

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