Bank of America eyes growth in employee benefits as Morgan Stanley ramps up

BANK OF AMERICA posted a $4 billion profit in the first quarter of 2020, reflecting a sharp increase in funds set aside for bad loans. AP FILE PHOTO/STEVEN SENNE
BANK OF AMERICA posted a $4 billion profit in the first quarter of 2020, reflecting a sharp increase in funds set aside for bad loans. AP FILE PHOTO/STEVEN SENNE
NEW YORK – Bank of America Corp. is seeking to become a one-stop shop for employee benefits. The Charlotte, N.C.-based lender is uniting its offerings for employers - including retirement, health care savings, equity and deferred-compensation plans - alongside its traditional banking and investing services. It’s also on a path to hire about 150 specialists…

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