Banks in USA

Bank Of America

Bank of America Corporation (NYSE: BAC) is a financial service company, headed by Walter E. Massey, who is the Chairman of the Board.

It is recorded to be the largest bank holding company in the United States, in assets, and the second largest bank in market capitalization. Bank of America caters to a vast bouquet of customers in more than 150 countries and has an association with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. Apart from being a member of the Federal Deposit Insurance Corporation (FDIC), Bank of America Corporation is also a part of both the S&P 500 Index and the Dow Jones Industrial Average. The lineage of Bank of America dates back to 1904. It is during this time that Amadeo Giannini laid the foundation for Bank of Italy, in San Francisco.The objective was to cater to immigrants who were left unattended by the other banks The acquisition of Merrill Lynch on 2008 made it the world's largest wealth manager and a crucial player in the segment of investment banking. Also the brand acquires up to 12.2% of all U.S. deposits, as recorded in August 2009. Prior to this, the other achievement by the bank was in July 2008 finished its purchase on Countrywide Financial Corporation. This made Bank of America Corporation USA’s leader in mortgage pioneer, thereby reigning over 20-25 percent of the market in home loan.
HeadQuarters:Charlotte, NC, USA336-right>

Citi Bank

One of the important names in American financial services company based in New York, NY, is Citigroup Inc. One of the world's largest mergers in history namely the joining hands of the banking giant Citicorp with the financial conglomerate Travelers Group on April 7, 1998 created the platform for Citigroup’s emergence. It happens to be the third largest bank authority in U.S, with an asset of $1.9 trillion. Citigroup Inc. boasts the world's biggest financial services network, pervading over 140 countries with more or less 16,000 offices worldwide. The company comprises of 300,000 professionals around the world. Citigroup is a principal body in US Treasury security, acquiring over 200 million customer base in more than 140 countries.

The company incurred heavy losses during the global financial crisis in 2008. A colossal bailout by the U.S. government in November 2008 released it. The group’s greatest shareholders comprise of finance from the Middle East and Singapore. February 27, 2009, Citigroup announced that the United States government would be taking a 36% equity stake in the company by converting $25 billion of emergency aid into common shares. Thereafter the 36% of stake has been cut down to 27% after Citigroup sold $21 billion of common shares & equity in the largest single share sale in US history, exceeding that of Bank of America's $19 billion share sale a month ahead.
Headquarter:New York City

JP Morgans

Being amongst the oldest financial services firms in the world J.P. Morgan Chase & Co, has operations across 60 countries. It is a leader in financial services with assets of $2 trillion, and the largest market capitalization and third largest deposit base in U.S. banking institution behind Wells Fargo and Bank of America. The hedge fund unit of JP Morgan Chase is the second largest hedge fund in the United States with $32.893 billion in assets as of 2009. Formed in 2000, when Chase Manhattan Corporation merged with J.P. Morgan & Co. The firm serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and governmental entities.

The JP Morgan brand is used by the Investment Bank as well as the Asset Management, Private Banking, Private Wealth Management, and Treasury & Securities Services divisions alike. Fiduciary activity within Private Banking and Private Wealth Management is done under the aegis of JP Morgan Chase Bank, N.A.—the actual trustee. The Chase brand is used for credit card services in the United States and Canada, the bank's retail banking activities in the United States, and commercial banking.
HeadQuarter:New York City, New York, U.S.

Wells Fargo & Co.

appens to be a revamped financial services company with worldwide operations. It is the fourth largest bank in the US with regards to its assets and also by the market cap records to be the third largest bank. Also it is the second largest bank in deposits, home mortgage servicing, and debit card. Wells Fargo & Co. was the only bank in the United States to be rated AAA by S&P in the year 2007, although recently its ranking has gone down owing to the Financial Crisis in 2008.
It is based in San Francisco, California (Wells Fargo Bank, N.A., is legally chartered in Sioux Falls, South Dakota), and is an outcome of a merger of California-based Wells Fargo & Co. by Minneapolis-based Norwest Corporation in the year 1998. The name Wells Fargo was given to the new company, aiming at capitalizing on the 150-year lineage of the nationally acclaimed Wells Fargo brand and its trademark thereafter. After this acquisition, the company retained its headquarters in San Francisco and charter in Sioux Falls.
As recorded in 2009, Wells Fargo owns 6,650 retail branches (called stores by Wells Fargo), 12,260 automated teller machines, 276,000 employees and over 48 million client base. Wells Fargo presently functions in stores and ATM's under the titles of Wells Fargo and Wachovia.

Products & Services

*Finance and insurance
*Consumer Banking
*Corporate Banking
*Investment Banking
*Investment Management
*Global Wealth Management
*Private Equity
*Mortgage