Bank of America Announces Appointment.CHARLOTTE, N.C.--(BUSINESS WIRE)--July 8, 1999-- Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. today announced the appointment of Kenneth E. Kido as head of the company's $20 billion Consumer Credit Card Division. Kido will be responsible for Bank of America's Visa and MasterCard Platinum, Gold, Classic and co-branded credit cards. With $20 billion in credit card loan balances, Bank of America is the third largest credit card issuer in the U.S. as measured by purchase volume. Kido said one of his goals will be to use Bank of America's consumer credit card products to build new customer relationships and deepen existing customer relationships with the bank. "Our goal is to be more than simply a provider of credit cards," Kido said. "We want to offer a range of financial solutions of which a credit card is an integral part." Prior to his new position, Kido led the Strategic Planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. Division of Bank of America's Card Services business, which includes consumer and commercial credit card, ATM, check (debit) card, smart card and BA Merchant (merchant card processing) Services. He will retain that role, said G. Patrick Phillips, head of Card Services. "Ken will continue to develop long-term strategies that are consistent among all Card Services businesses and are aligned with the overall customer-value driven strategies of Bank of America as a whole," Phillips said. Kido, a native of Seattle, was a 20-year veteran of Washington state's Seafirst Bank, a Bank of America subsidiary. From 1991-1997, he managed Seafirst's credit card businesses. In 1997, Kido joined Bank of America's Asia Retail Banking Group in Hong Kong, where he was responsible for assessing Asia retail credit card markets, developing and implementing strategy, managing the profitability and card issuing business in five countries in Asia. BankAmerica Corporation, with $614 billion in total assets, is the largest bank in the United States. It has full-service operations in 21 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). and provides financial products and services to 30 million households and 2 million businesses, as well as providing international corporate financial services for business transactions in 190 countries. BankAmerica Corporation stock (ticker:BAC BAC abbr. blood alcohol concentration ) is listed on the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Pacific and London stock exchanges London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. and certain shares are listed on the Tokyo Stock Exchange Tokyo Stock Exchange Main stock market of Japan, located in Tokyo. It opened in 1878 to provide a market for the trading of government bonds newly issued to former samurai. . |
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