Bank of America Private Bank
Bank of America Private Bank is the private wealth division of Bank of America Corporation (NYSE: BAC), serving high-net-worth individuals and families in the U.S. with an integrated platform spanning investment management, lending, and estate planning services.
- Company typePublic
- Founded1853
- HeadquartersNew York, United States
- Headcount1,001–5,000
- GTM typeB2C
- OfferingServices
What Bank of America Private Bank does
Bank of America Private Bank is the dedicated private wealth division of Bank of America Corporation (NYSE: BAC), serving high-net-worth individuals and families across the United States. The unit delivers an integrated Private Wealth Solutions platform that combines investment management, credit and lending solutions, and estate planning into a single offering, supported by 1,001–5,000 professionals operating primarily out of New York.
The business model is a typical private banking construct: revenues are generated through asset-based fees on managed and advised portfolios, lending margins on mortgages and securities-based credit extended to clients, and fiduciary/trust fees for estate and wealth structuring services. Client acquisition leverages the parent company's national retail and commercial banking franchise as a referral channel, with private client advisors (such as the disclosed Senior Vice Presidents Diana Ren and Scott Skorobohaty) managing relationships directly.
Because the unit operates as a division rather than a standalone entity, it does not have separately disclosed financials, a dedicated funding history, or independent M&A activity in the input data. Its competitive position is therefore inseparable from Bank of America Corporation's overall capital base, regulatory standing, and brand equity, which simultaneously confers scale advantages and ties its strategic moves to the parent's broader priorities.
Bank of America Private Bank firmographics
Firmographics- Name
- Bank of America Private Bank
- Website
- https://privatebank.bankofamerica.com
- Company type
- Public
- Founded year
- 1853
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Bank of America Private Bank is the private wealth division of Bank of America Corporation (NYSE: BAC), serving high-net-worth individuals and families in the U.S. with an integrated platform spanning investment management, lending, and estate planning services.
- Ownership category
- akta.pro rank
Bank of America Private Bank industry classification
Industry- Product category
- Private Wealth Management
- NAICS
- Portfolio Management and Investment Advice (523940), Commercial Banking (522110)
- SIC
- National Commercial Banks (6021)
- akta.pro primary industry
- Private Banking Advisory & Discretionary Portfolio Management (FSABADAD)
- akta.pro secondary industries
- Private Banking Lending (Securities-Backed, Real Estate, Structured Credit) (FSABADAE), Offshore & International Private Banking (FSAAABAB)
Keywords
Where Bank of America Private Bank is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Markets served
Bank of America Private Bank business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales
Bank of America Private Bank product offering
Product offeringCore offering
Bank of America Private Bank provides integrated Private Wealth Solutions for high-net-worth individuals and families, delivering investment management, credit and lending solutions, and estate planning services. The offering combines personalized advisory relationships with the broader banking capabilities of its parent, Bank of America Corporation.
Product overview
Bank of America Private Bank offers a unified Private Wealth Solutions platform that integrates comprehensive wealth management services for high-net-worth clients, combining investment management, credit and lending solutions, and estate planning capabilities into a single integrated offering.
Differentiator
Problem solved
Functional benefit
Products and services
- Private Wealth Solutions Integrated wealth management platform for high-net-worth individuals and families that combines investment management, credit and lending solutions, and estate planning services within a single offering.
- Investment Management Investment management services provided to high-net-worth clients as part of the Private Wealth Solutions platform, covering portfolio management and advisory.
- Lending Solutions Credit and lending solutions for high-net-worth clients within the Private Wealth Solutions platform.
- Estate Planning Services Estate planning services provided to high-net-worth individuals and families as part of the Private Wealth Solutions platform.
Companies that use Bank of America Private Bank
Customer profileIdeal customer profiles1 record
Bank of America Private Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Bank of America Private Bank partnerships and signals
Strategic signalRecent moves1 record
Bank of America Private Bank competitors and assessment
Company assessmentDirect peers
- Morgan Stanley Wealth Management: Major U.S. wealth management franchise with a strong HNW/UHNW focus, offering investment advisory, lending, and planning services. Directly comparable in client base, product breadth, and integrated platform model.
- UBS Wealth Management: One of the world's largest wealth managers, formed through UBS's acquisition of Credit Suisse. Directly competes in HNW/UHNW advisory, lending, and investment management across the U.S. and globally.
- Wells Fargo Private Bank: The private banking arm of Wells Fargo, providing wealth advisory, investment management, and lending to HNW clients in the U.S. Comparable as a large U.S. commercial bank's private wealth division.
- JPMorgan Private Bank: The private banking division of JPMorgan Chase, offering investment management, lending, and wealth advisory services to HNW/UHNW clients globally. Directly competes with Bank of America Private Bank across the full wealth continuum.
- BNY Mellon Wealth Management: Wealth management division of BNY Mellon serving HNW families and institutions with investment management, trust, and private banking services. Comparable in target client profile and integrated offering.
- Citi Private Bank: The private banking division of Citigroup, providing integrated wealth management, investment, and lending services to HNW/UHNW clients globally. Directly comparable given shared global banking parentage and product breadth.
- Northern Trust Wealth Management: Wealth management division of Northern Trust serving HNW/UHNW families with investment management, lending, and trust services. Comparable in client focus and integrated wealth solutions platform.
- Goldman Sachs Private Wealth Management: The private wealth arm of Goldman Sachs, focused exclusively on ultra-high-net-worth clients with investment advisory, lending, and bespoke wealth structuring. Directly competes at the top end of the UHNW segment.
Broad incumbents
- Deutsche Bank Private Bank: Private banking division of Deutsche Bank offering wealth advisory, lending, and investment services across global markets. Comparable as a large universal bank's private wealth arm.
- HSBC Private Banking: Global private banking franchise of HSBC, focused on internationally mobile HNW/UHNW clients with strong cross-border capabilities. Comparable in scale and integrated banking-plus-wealth model.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights5 records
Customer concentration
Bank of America Private Bank social profiles
Digital presenceBank of America Private Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Bank of America Private Bank leadership team
Management profileNumber of profiles
Profiles2 records
Bank of America Private Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Bank of America Private Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Bank of America Private Bank
What does Bank of America Private Bank do?
Bank of America Private Bank provides integrated Private Wealth Solutions for high-net-worth individuals and families, delivering investment management, credit and lending solutions, and estate planning services. The offering combines personalized advisory relationships with the broader banking capabilities of its parent, Bank of America Corporation.
Is Bank of America Private Bank a public or private company?
Bank of America Private Bank is a public company. It is classified as public and is currently operating.
When was Bank of America Private Bank founded?
Bank of America Private Bank was founded in 1853. It employs 1,001 to 5,000 people.
Where is Bank of America Private Bank based?
Bank of America Private Bank is headquartered in New York, United States, in the North America region.
Who are Bank of America Private Bank's main competitors?
Direct peers on record are Morgan Stanley Wealth Management, UBS Wealth Management, Wells Fargo Private Bank, JPMorgan Private Bank, BNY Mellon Wealth Management, Citi Private Bank, Northern Trust Wealth Management and Goldman Sachs Private Wealth Management. Broad incumbents are Deutsche Bank Private Bank and HSBC Private Banking.
Does Bank of America Private Bank have an API?
No public API is recorded for Bank of America Private Bank.
What industry is Bank of America Private Bank in?
Bank of America Private Bank's product category is Private Wealth Management. Its primary akta.pro industry code is FSABADAD, Private Banking Advisory & Discretionary Portfolio Management, with a secondary code of FSABADAE, Private Banking Lending (Securities-Backed, Real Estate, Structured Credit). Its NAICS code is 523940 and its SIC code is 6021.