Building a giant— Bank of America |
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| Authors: | Yabshi Pan Rinzinwangmo Song Fengming Peter Flavel |
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| Institution: | 1. Doctoral Student, Finance, Tsinghua University, Beijing, China;2. Professor of Finance, School of Economics and Management, Tsinghua University, Beijing, China;3. Standard Chartered Bank, Singapore |
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| Abstract: | A long‐term, durable, and well‐executed corporate strategy is essential for any banking institution working to build a world‐class financial firm. Over the course of several decades, Bank of America has set the gold standard with respect to timing, execution, and integration of newly acquired businesses. Bank of America's “Four Cornerstones” corporate strategy is the foundation of the firm's success story. This case study explores the “Four Cornerstones” corporate strategy and investigates whether or not Bank of America's recent bold acquisition of Merrill Lynch demonstrates the firm's hallmark corporate strategy and tactical execution. © 2009 Wiley Periodicals, Inc. |
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