Banc of America Securities

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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.

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.

1 Financial Position
2 Offices
3 See also
- 3.1 Competitors
4 External links

[edit] 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.

[edit] Offices

BAS operates offices across the world, with major offices in New York, Charlotte, Chicago, 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.