Banc of America Securities LLC (BAS) is the investment banking subsidiary of Bank of America. The firm competes in both the domestic and international equity and investment banking markets, and pursues a strategy pioneered by Citigroup that combines corporate lending with investment banking advice and services. It is currently the fastest growing investment bank on Wall Street, and is positioning itself to be a bulge bracket investment bank. Its competitors include Goldman Sachs, JPMorgan, Merrill Lynch, and Lehman Brothers. Image File history File links Banc_of_America_Securities_Logo. ... This article or section may be confusing or unclear for some readers, and should be edited to rectify this. ... Citigroup Inc. ... Bulge bracket is a phrase associated with finance, in particular the investment banking industry. ... Goldman Sachs offices at the Fraumünsterplatz in Zürich (the light-colored building on the left) The Goldman Sachs Group, Inc. ... JPMorgan Chase & Co. ... Merrill Lynch & Co. ... Lehman Brothers Holdings, Inc. ...

Its strongest investment banking groups include High-Yield Debt underwriting and Leveraged Finance, in addition to industry coverage groups such as Healthcare, Media & Telecom, Financial Institutions, Real Estate and Gaming. BAS also does a significant amount of work for Financial Sponsors, or private equity firms, often financing leveraged transactions. Following the strategy of Goldman Sachs, the firm lacks a standalone Mergers & Acquisitions department, instead employing M&A senior bankers throughout the industry coverage groups. The firm does however maintain a small group of professionals who focus on "sell-side" advisory, referred to administratively as Corporate Sale & Divestiture.

The company is registered as a broker-dealer with the SEC, is a member of the New York Stock Exchange, and the National Association of Securities Dealers. The use of "Banc" in the BAS's name is indicative of the fact that the company is not a bank, and its deposits and other holdings are not insured by the FDIC. A broker-dealer is an institution that has registered with the SEC in order to have the ability to buy and sell securities for customers as well as for its own account. ... SEC is a TLA which can refer to: In general context, an abbreviation for second. ... New York Stock Exchange (June 2003) The New York Stock Exchange (NYSE) , also nicknamed the Big Board, is the largest stock exchange in the world in dollar volume and second largest by number of companies listed. ... NASD executive office on K Street in downtown Washington, D.C. The National Association of Securities Dealers, also known as the NASD, is the regulatory body primarily responsible for the regulation of persons involved in the securities industry in the United States. ... The acronym BANC refers to the British_Association_of_Nature_Conservationists. ... The First Provincial Bank of Taiwan in Taipei, Republic of China was formerly the central bank of the Republic of China and issued the New Taiwan dollar. ... The Federal Deposit Insurance Corporation (FDIC) was created by the Glass-Steagall Act of 1933. ...

Financial Position

According to unaudited figures published as of 30 June 2005 by BAS, its balance sheet reflected $207 billion in assets. As of 31 December 2004, the company's financial statement, audited by PricewaterhouseCoopers, reflected total assets of $144 billion. An audit is an evaluation of an organization, system, process, project or product. ... A balance sheet, in formal bookkeeping and accounting, is a statement of the book value of a business or other organization or person at a particular date, often at the end of its fiscal year, as distinct from an income statement, also known as a profit and loss account (P... In business and accounting an asset is anything owned, whether in possession or by right to take possession, by a person or a group acting together, e. ... A PwC office building (Southwark Towers) in London, England. ...

Offices

BAS operates offices across the world, with major offices in New York, Charlotte, San Francisco, Tokyo, Frankfurt, and London. Its world headquarters is at the Bank of America Corporate Center in Charlotte, but the bulk of its Investment Banking operations are presently located at the Solow Building in New York City. The company is also one of the expected occupants of the new Bank of America Tower at Bryant Park in New York City. Midtown Manhattan, looking north from the Empire State Building, 2005 New York City (officially named the City of New York) is the most populous city in the state of New York and the entire United States. ... // it is a big lovely city-george bush Charlotte redirects here. ... Nickname: The City by the Bay; Fog City Location of the City and County of San Francisco, California Coordinates: Country United States of America State California City-County San Francisco Mayor Gavin Newsom Area    - City 122 km²  (47 sq mi)  - Land 121. ... Tokyo , literally Eastern capital)   is the capital of Japan. ... Main Station Frankfurt Frankfurt International Airport For other uses, see Frankfurt (disambiguation). ... London (pronounced ) is the capital city of England and the United Kingdom. ... The Bank of America Corporate Center is an 871 ft (265m) skyscraper in downtown Charlotte, North Carolina. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... The Solow Building from 6th Avenue and 57th Street during the day The Solow Building (also known as 9 W. 57 St) is a skyscraper located in Manhattan just west of 5th Avenue, sandwiched between the 57th and 58th Street. ... Bank of America Tower construction site, as seen from the corner of 42nd Street and Sixth Avenue. ... Bryant Park, August 2003 Bryant Park is a 9. ...

See also

• Primary dealers
• Investment Banking

Primary dealers are banks or brokerage firms who may trade directly with the Federal Reserve System. ... To meet Wikipedias quality standards, this article or section may require cleanup. ...

External links

• Unaudited Statement of Financial Condition as of 30 June 2005.
• Statement of Financial Condition as of 31 December 2004.
• Banc of America Securities Global Equities and Electronic Trading Services site.
• Bank of America Corporation's website.