Compete Appoints Mike Bailey to Lead Financial Services Practice; Former Bank of America Executive Will Guide Expansion to Meet Increased Demand.BOSTON -- Compete, Inc., a marketing services firm, today announced the appointment of Mike Bailey, formerly from 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. , as Managing Director of its new Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. practice. "Mike brings 25 years of experience to Compete that includes positions at Bank of America, FleetBoston Financial FleetBoston Financial was a Boston, Massachusetts-based bank created in 1999 by the merger of Fleet Financial Group and BankBoston. In 2004 it merged with Bank of America; all of its banks and branches were given the Bank of America logo. , Shawmut Bank and Manufacturers Hanover Hanover, city, Germany Hanover, Ger. Hannover, city (1994 pop. 524,820), capital of Lower Saxony, N Germany, on the Leine River and the Midland Canal. Trust," said Stephen DiMarco, Vice President of Marketing and Client Services. "Leveraging this experience, Mike will be responsible for the growth of the practice, overseeing Compete's financial services analysts and managing relationships with diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment services companies. Financial services companies are turning the online channel into a competitive advantage and are looking to Compete, and Mike, to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. their investments," added DiMarco. Compete helps financial services companies make strategic decisions on how to improve customer acquisition and retention and how to prioritize pri·or·i·tize v. pri·or·i·tized, pri·or·i·tiz·ing, pri·or·i·tiz·es Usage Problem v.tr. To arrange or deal with in order of importance. v.intr. opportunities for developing new revenue-generating online products. Last year, the practice experienced a 70% increase in sales over 2003 figures and expanded from primarily retail banking clients to include several of the nation's top brokerage, insurance and lending companies. In response to this industry demand, Compete also announced today the creation of a newly expanded practice to serve marketers in the financial industry, the Financial Services practice, headed by Bailey. Prior to joining Compete, Bailey was Senior Vice President, Internet channel The Internet Channel is a version of the Opera 9 web browser for use on the Wii by Opera Software and Nintendo.[1] On December 22, 2006, a free beta version (promoted as a "trial version") of the browser was released. manager, at Bank of America where he was responsible for the affluent consumer and small business segments. Previously he held positions with FleetBoston Financial where he led efforts to ensure the bank's Internet properties met the needs of more than one million consumer, small business and private banking customers. In these roles, Bailey championed technology investments designed to bring more value to online users. "For the past 10 years I have created online growth strategies and developed e-commerce channels that customers trust and use," said Mike Bailey. "I am delighted to have joined Compete where I can now put this experience to use helping other financial companies make the most of their online investments," added Bailey. Mike can be reached for comment at Compete's Boston headquarters at 617.933.5646, or at mbailey@compete.com. Editor's Note Editor's Note (foaled in 1993 in Kentucky) is an American thoroughbred Stallion racehorse. He was sired by 1992 U.S. Champion 2 YO Colt Forty Niner, who in turn was a son of Champion sire Mr. Prospector and out of the mare, Beware Of The Cat. Trained by D. : For information on the Net about Compete's Financial Services practice: http://www.compete.com/financial_services About Compete, Inc. Compete provides the earliest indication of actual consumer behavior available, which gives clients the information needed to improve the effectiveness of customer acquisition, servicing, cross-sell and retention. Compete has proven that online data on consumer behavior is a predictive indicator of total demand and purchase intent - both offline and online. Compete leverages its database of the daily behavior of more than 10 million online consumers to offer predictive analytics Predictive analytics encompasses a variety of techniques from statistics and data mining that process current and historical data in order to make “predictions” about future events. , which Compete's industry experts interpret to provide clear recommendations for action. Since launching its services Compete has provided major auto manufacturers, financial services companies and wireless carriers with a unique vantage point on their customers and competitors not previously available. For more information visit www.compete.com. |
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