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Bank of America

In: Business and Management

Submitted By mdanielle2009
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Assignment #1

Bank of America

Melissa Shuler
February 14, 2012
HRM 532
Dr. Marie-Line Germain

Outline the talent management program that led to success for the company.
Before we can go into the talent management program that led to the success for the company we must know how the company began. The Bank of America was formed in 1904 when the founder of Bank of Italy, Amadeo Giannini which was solely out of San Francisco in an effort to cater to immigrants that were denied services by other banks based upon their status. According to the article there was a fire in 1906 that was caused by an earthquake that completely took out the bank. In order to make sure things were going to get back to the way they once were, Giannini handed out loans to those who were willing to help rebuild and hoped that things would get back to the way they were and then the loans were repaid (Goldsmith, 2010). Amadeo Giannini had ambitious plans to create a bank trading at a national level. He expanded BankAmerica operations into the western U.S. states, in the process moving into the insurance market (with the support of his holding company, the Transamerica Corporation). However, Giannini’s plans were somewhat thwarted by two factors.
Firstly, BankAmerica and TransAmerica’s relationship was curtailed by the 1956 Bank Holding Company Act, which forbade banks from possessing non-banking organizations. Secondly, federal banking regulation dictated that banks should not be active interstate. This forced the Bank of America into moving its interstate banking operations into a new organization, which ultimately became First Interstate Bancorp (Goldsmith, 2010).
In 1958, the Bank of America (BankAmerica) created the BankAmericard credit card, which was rebranded in 1975 as the VISA card. It was not until the 1980s (after the 1967 Bank Holding Company Act) that the Bank of...

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