Mar 09, 2022 / 05:40PM GMT
Gerard Sean Cassidy - RBC Capital Markets, Research Division - MD, Head of U.S. Bank Equity Strategy & Large Cap Bank Analyst
Good afternoon, everyone. I'm Gerard Cassidy with RBC Capital Markets. Welcome to our afternoon session of the Financial Institutions Conference here in 2022. It's my pleasure to introduce Bank of America as the fireside chat participant this afternoon.
Really no introduction really needs to be made about Bank of America. It's the second largest bank in our country. The company's market cap is one of the largest in the United States. And with that, it trades today at about 1.3x stated book. But again, the market cap is well over $330 billion. And what we would suggest is that it's one of our best managed large banks as well as evidenced by the work that their Chairman and CEO, Brian Moynihan, has done since the financial crisis of bringing it to where it is today.
We're very pleased to have with us Andy Sieg, who's the President of Merrill Lynch Wealth Management. He's responsible for overseeing 25,000 employees. And as of June, it had -- I'm sorry, at the end
Bank of America Corp at RBC Capital Markets Financial Institutions Conference (Virtual) Transcript
Mar 09, 2022
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