For Bank of America, It's Serving The Overserved

Bank of America plans to open up an office in New York for customers with more than $50 million in assets to invest, The American Banker said. Once the bank opens up its first ultra-high-net-worth office in New York it will open up more in Boston, San Francisco, Los Angeles, Chicago, Dallas and in Southern Florida, said Alan Rappaport, who heads the the Charlotte-based bank's wealth advisors group.