Bank of America Expands in Western U.S.
In fact, the bank is doubling its private banking operations in California, and will open 10 new offices up and down the state by the end of the year. Previously, the bank had only nine offices in California.
Why? The percentage of wealthy customers who live in the state is overwhelming, especially in San Francisco and the Silicon Valley, according to banking officials. Not only is potential for wealthy customers greater in California than in many other markets, but it continuing to grow at a rapid, non-stop pace.