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BusinessWeek TV’s Destination CEO
Name: Bank of America Corporation
CEO of Company: Ken Lewis
Themes: International management, Communication, Ethics
Suggested chapters: 4, 15, 3
Short paragraph about the video.
If you carry a credit card, there is a good chance that it was issued by Bank of America
Corporation. And if you have visited an ATM recently, it may have been at 1 of the over 16,000
Bank of America terminals located throughout the U.S.
After acquiring MBNA in 2006 under the direction of CEO Ken Lewis, Bank of America
became the largest credit card issuer in the U.S. The Charlotte, North Carolina, company with
over 176,000 employees remains poised to further grow its business through global acquisitions.
China's fast-expanding banking sector looks especially attractive as Bank of America seeks to
compete with Citigroup, the world’s largest financial services company. Bank of America also
acquired an interest in a Mexican bank as it attempts to move into new markets.
Described as tough, no-nonsense, and no excuses leader, Lewis grew up in Mississippi the son of
a single mother who worked double shifts as a nurse to support him and his sister. Lewis was
began working at Bank of America as a credit analyst, where he has spent the last 37 years. He
was named President of Bank of America in 1999 and then CEO in 2001. Lewis is a CEO who
demands high performance, and so far Bank of America (BAC: NYSE) is delivering.