Provider Profiles
Bank of America Private Bank
| Profile | |
| Business Model§ | OCIO + other |
| Year Entered Into OCIO Business | 2008 |
| No. of Relationship Managers/Salespeople | 76 |
| No. of OCIO Portfolio Managers | 31 |
| OCIO % of Total Firm Revenue | * |
| No. of Clients, Full Discretion | 538 |
| Full Discretionary Assets | |
| Total Full Discretionary OCIO Assets | $34.3b |
| Discretionary Assets by Fund Type | |
| Defined Benefit | $10.8b |
| 401(k), 403(b), Other DC | |
| Endowments/Foundation | $23.5b |
| Healthcare Pools (Board designated, funded depreciation) | |
| Other |
| Portfolio Construction |
| Bank of America Private Bank’s goal is to construct an investment portfolio that meets clients’ goals and objectives. They begin with an asset allocation process based on long-term (multiple market cycle) performance expectations for various asset classes. They determine asset classes, and portfolio-weighting combinations of those classes, to best maximize expected return potential for given levels of risk, or to reduce risk for given levels of expected return potential. They then recommend a portfolio with risk/return characteristics that meet their clients’ long-term investment objectives.
Centered on a mission-aligned approach to investing, Bank of America Private Bank developed its fiduciary institutional investment management process. They utilize a customized investment strategy that integrates their clients’ short- and long-term goals, objectives, and risk tolerance. |
| *Bank of America does not report on their OCIO business separately. Bank of America Private Bank ("Private Bank") provides comprehensive wealth management capabilities to a broad base of clients from high-net-worth families to institutional nonprofit organizations. In 2021, the Private Bank revenue was approximately $3.3 billion. As a publicly-traded company, we do not report out any additional breakdown of this revenue. For detailed financial information regarding Bank of America, please see our Bank of America Corporation Annual Report online at http://investor.bankofamerica.com.
§OCIO only: Open-architecture (no proprietary products used): Investment outsourcing is only business line. OCIO + other: An open-architecture/manager-of-manager investment outsourcing platform as one of multiple business lines. Implemented consulting: i.e. consulting firm that also has discretion over assigned assets. Proprietary/non-proprietary: An investment outsourcing platform that offers proprietary products alongside non-proprietary products. |