BoA expands wealth management group in push to win rich clients

FILE PHOTO: A Bank of America logo is seen in New York City, New York, U.S. January 10, 2017. REUTERS/Stephanie Keith

NEW YORK: Bank of America Corp (BoA) formed a new wealth management banking and lending group as the firm expands its offering to affluent clients increasingly sought by rivals.

The new organisation comprises about 3,500 employees and will be led by April Schneider, a spokesperson confirmed to Bloomberg News.