U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > General U.S.
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 11-04-2009, 09:32 PM
 
Location: Houston
2,026 posts, read 3,674,941 times
Reputation: 466

Advertisements

I don't know about Bank of America but I do know that AT&T (8th largest company in the country) left San Antonio for Dallas but San Antonio is still doing fine. I believe AT&T still keeps close connections with San Antonio and employs a great amount of people in the area still. The cities still booming and the economy is still doing really well. In fact San Antonio is expected to be the third or fourth city to recover from the economy. I'm sure Charlotte will be fine.
Reply With Quote Quick reply to this message

 
Old 11-04-2009, 10:02 PM
 
Location: Denver
6,628 posts, read 12,504,196 times
Reputation: 4054
Quote:
Originally Posted by grapico View Post
Why not just move BoA back to San Francisco, their original home, and plenty of talent easy to recruit talent... That is where their other prominent bank went, Wachovia, which was bought out by Wells Fargo.
Why would they move to San Francisco though? BoA just built a massive skyscraper in New York City, and the East is obviously a much larger financial services center than the West. New York City is the #2 financial center on the planet, with other noteworthy financial centers like Chicago, Boston, and Washington DC all relatively close.

San Francisco is the undisputed financial center of the West, but what would warrant the cross-country move when the king of American Finance is closer? (aside from the fact that they used to be headquartered in SF)

You mention that Wachovia has moved to SF...but that's only because they were bought by a SF bank. This move would be independent.
Reply With Quote Quick reply to this message
 
Old 11-04-2009, 10:04 PM
hsw
 
2,144 posts, read 6,349,316 times
Reputation: 1518
Don't know that anyone smart has ever sought employment at a commercial bank...jobs as tellers never appealed as a first choice

From ~'80-'00, a lot of smart guys worked at investment banks in Manhattan as traders or M&A I-bankers

Since ~'00, most of smartest guys (in finance) have worked at (or started) various hedge funds in NYC or Greenwich or SF (or even Chic or BevHills or Hou or Dall), not at investment banks anywhere (even Goldman)
Reply With Quote Quick reply to this message
 
Old 11-04-2009, 10:17 PM
 
Location: metro ATL
8,190 posts, read 12,324,591 times
Reputation: 2698
It will hurt our ego more than anything. We'll still have a bunch of BOA jobs; as someone said, the top brass will move to NYC or Boston or wherever a new CEO might move the HQ's. At this point, the HQ is already functionally in NYC anyway. This just goes to show that many times, wherever a company winds up being headquartered is at the whim of the CEO and his/her personal preferences.
Reply With Quote Quick reply to this message
 
Old 11-04-2009, 10:21 PM
 
Location: Zurich, Switzerland/ Piedmont, CA
32,342 posts, read 55,140,686 times
Reputation: 15414
Quote:
Originally Posted by HenryAlan View Post
BofA at this point is made up of so many predecessor banks, it's hard to trace lineage so specifically to San Francisco.
Bank of America was the largest bank in the world for a while when it was based in SF. Is story is quite famous.

Quote:
I never understood the move to Charlotte, though.
Charlotte-based NationsBank bought out SF-based BofA, took its more popular name and made Charlotte the HQ.
Reply With Quote Quick reply to this message
 
Old 11-04-2009, 10:31 PM
 
Location: Zurich, Switzerland/ Piedmont, CA
32,342 posts, read 55,140,686 times
Reputation: 15414
Quote:
Originally Posted by tmac9wr View Post
Why would they move to San Francisco though?
Actually I heard whispers of that happening at a few social events. Thought it was strange and very juicy. LOL

Quote:
the East is obviously a much larger financial services center than the West. New York City is the #2 financial center on the planet, with other noteworthy financial centers like Chicago, Boston, and Washington DC all relatively close.
This doest matter considering how financial services are so computerized nowadays-a bank can be run from anywhere.

However, most of BofAs board is in the Northeast so that's a good indication of where they'd probably want to be.

Quote:
You mention that Wachovia has moved to SF...but that's only because they were bought by a SF bank. This move would be independent.
Actually speaking of independently moving, NorWest of Minneapolis bought Wells Fargo but instead of moving the HQ back to Minneapolis, the out of town owners actually decided to move their HQ to San Francisco.

It really caught the SF crowd off guard. But it was a very welcomed decision in the Bay Area.
Reply With Quote Quick reply to this message
 
Old 11-04-2009, 10:49 PM
 
Location: Atlanta
2 posts, read 3,997 times
Reputation: 10
Quote:
Originally Posted by tmac9wr View Post
Why would they move to San Francisco though? BoA just built a massive skyscraper in New York City, and the East is obviously a much larger financial services center than the West. New York City is the #2 financial center on the planet, with other noteworthy financial centers like Chicago, Boston, and Washington DC all relatively close.

San Francisco is the undisputed financial center of the West, but what would warrant the cross-country move when the king of American Finance is closer? (aside from the fact that they used to be headquartered in SF)

You mention that Wachovia has moved to SF...but that's only because they were bought by a SF bank. This move would be independent.
Actually, New York City is still viewed as the financial capital of the world from a global perspective.

[url]http://business.theatlantic.com/2009/10/new_york_city_still_financial_capital.php[/url]

Last edited by vrooom; 11-04-2009 at 10:58 PM..
Reply With Quote Quick reply to this message
 
Old 11-04-2009, 11:14 PM
 
Location: Denver
6,628 posts, read 12,504,196 times
Reputation: 4054
Quote:
Originally Posted by 18Montclair View Post
Actually speaking of independently moving, NorWest of Minneapolis bought Wells Fargo but instead of moving the HQ back to Minneapolis, the out of town owners actually decided to move their HQ to San Francisco.

It really caught the SF crowd off guard. But it was a very welcomed decision in the Bay Area.
I'm not saying San Francisco would be a bad choice...I'm just saying, when you've already got a huge presence in New York City (SF's superior when it comes to Financial Services), and Boston (SF's equal when it comes to Fin Svcs), why make the trip out to the West Coast?
Reply With Quote Quick reply to this message
 
Old 11-04-2009, 11:17 PM
 
Location: Denver
6,628 posts, read 12,504,196 times
Reputation: 4054
Quote:
Originally Posted by vrooom View Post
Actually, New York City is still viewed as the financial capital of the world from a global perspective.

New York City Still Financial Capital - The Atlantic Business Channel
Well, it depends who you ask...many experts rank London as the #1 financial services center on the planet, with New York as a close second.
Reply With Quote Quick reply to this message
 
Old 11-04-2009, 11:46 PM
 
306 posts, read 241,489 times
Reputation: 57
Quote:
Originally Posted by grapico View Post
Why not just move BoA back to San Francisco, their original home, and plenty of talent easy to recruit talent... That is where their other prominent bank went, Wachovia, which was bought out by Wells Fargo.
Honestly, I don't see why they ever went to Charlotte anyways.

Last edited by UrbanLover; 11-05-2009 at 12:20 AM..
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > General U.S.
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top