Bank of AmericaBAC
Recorded

Bank of America Bank of America 31th Annual Financials CEO Conference

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PeriodFY 0Duration37 minParticipants1

Transcript

Preview the first fifteen paragraphs, organized by speaker.

Speaker

Ladies and gentlemen, please return to your seats. Our program is about to resume.

Jim DeMareCo-President

Are we good to go? Yeah, cool. Fantastic. Good afternoon, everyone. Thank you for being with us today. Jim DeMare will be with us today, this afternoon. Thank you for coming to London.

Speaker

Thank you. You're Co-President of Bank of America, part of the member of the company executive management team.

Speaker

Yes. Well, thank you for the conference first.

Jim DeMareCo-President

This is yours. Great turnout.

Jim DeMareCo-President

I hope you're- Thanks, everybody, for attending.

Speaker

Beautiful hotel. Great hotel, lots of clients, amazing corporates today with us, so thank you for that.

Jim DeMareCo-President

Well, thank you everyone. We'll go through a couple of questions if that's okay.

Speaker

Sure. If we have time at the end, we'll open for Q&A in the room.

Jim DeMareCo-President

Let's start maybe with the macro backdrop.

Speaker

Sure. We have 70 million clients globally.

Jim DeMareCo-President

We have a unique perspective on what customers do, businesses, investors.

Speaker

Sure. What are you seeing from those clients today, and what is that telling you about the health of course, the U.S. economy?

Speaker

Sure but also the global one?

Speaker

Sure. I think in addition to maybe the level set, because we have a lot of folks here that aren't in the U.S. and maybe don't have as much of a perspective on what our franchise, you mentioned a couple of the stats. We have 46,000 banking clients broadly defined. We have 4.2 million clients that are, which, if we get the opportunity to talk about wealth, we'll talk about that a little bit more, but 4.2 million consumer investment customers, if you will, that are part of the bank, but also, not only using our traditional banking, you think about it, but using us for their investing future as well. When you combine that with we do about $500 trillion in payments a year. So thinking about that number and money circulating through the global economy, we do have the benefit of seeing a lot.

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