SKN | Bank of America Expands Growth Strategy Across Wealth, Global Banking and AI

Key Takeaways:

• Bank of America sees continued resilience across the U.S. economy, supported by strong nominal GDP growth, consumer spending, deposits and small-business activity.
• The bank is targeting an additional $4 billion in international revenue while expanding its wealth-management investment platform.
• Bank of America aims to grow consumer investment assets from approximately $600 billion toward $1 trillion.
• The bank is accelerating AI and technology investment, with internal AI tools already serving approximately 200,000 employees and coding productivity improving by roughly 15% to 20%.

Bank of America Builds Its Next Growth Phase Around Client Relationships

Bank of America is positioning its broad client network as the foundation for its next phase of growth, with management highlighting resilience across consumers and businesses while prioritizing international banking, wealth management, markets and technology. Jim DeMare, co-president of Bank of America, said the bank continues to see strength across the U.S. economy and is using its extensive client relationships to identify areas for further expansion.

The scale of that network gives the bank unusually broad visibility into economic activity. Bank of America serves approximately 46,000 banking clients, 4.2 million consumer investment customers and processes roughly $500 trillion in payments annually. That infrastructure provides the bank with multiple channels through which it can deepen existing relationships.

Wealth Management Becomes a Larger Strategic Opportunity

One of the clearest priorities is the expansion of wealth and consumer investment assets. Bank of America is targeting growth in consumer investment assets from approximately $600 billion toward $1 trillion, creating a substantial opportunity to increase the depth of relationships with affluent and high-net-worth clients.

For the bank, the significance extends beyond asset gathering. A larger investment platform can strengthen connectivity across banking, lending, investment management and other financial services. That integrated relationship model is particularly relevant as wealthy clients increasingly manage assets and liabilities across multiple jurisdictions and financial institutions.

International Expansion Adds Another Revenue Engine

Bank of America is also targeting approximately $4 billion of additional international revenue. The strategy gives the bank another avenue for growth while leveraging capabilities that already exist across global markets, corporate banking and wealth management.

The international focus is consistent with Bank of America’s broader relationship-led model. Rather than relying solely on domestic expansion, the bank is seeking to extend existing client relationships across geographies and financial products.

AI Investment Is Being Applied Directly to the Bank

Technology and artificial intelligence represent another important component of the strategy. Bank of America has deployed internal AI tools to approximately 200,000 employees, while coding productivity has improved by an estimated 15% to 20%.

The significance is operational. Rather than treating AI solely as a future opportunity, the bank is applying it across its existing workforce and technology infrastructure. If productivity gains scale across a platform of Bank of America’s size, technology becomes a potential lever for efficiency as well as a way to support growth.

For sophisticated international clients, the strategic signal is clear: Bank of America is combining wealth expansion, international reach, relationship banking and AI-enabled productivity within a single growth framework. The execution of these initiatives will determine how effectively the bank converts its enormous client base and technology investments into deeper, longer-duration financial relationships.

For a confidential discussion regarding your cross-border banking structure, international wealth management or global financial strategy, contact our senior advisory team.