Bank of America Corp. is seeking to become a one-stop shop foremployee benefits.
The Charlotte, North Carolina-based lender is uniting itsofferings for employers—including retirement, healthcare savings,equity, and deferred-compensation plans—alongside its traditionalbanking and investing services. It's also on a path to hire about150 specialists in employee benefits across the U.S. for itscombined Financial LifeBenefits services.
"Companies are begging us to help their employees every day,"Lorna Sabbia, Bank of America's head of retirement and personalwealth solutions, said at a briefing in New York. At the same time,"employees are stressed out" and seeking better tools to managetheir finances, she said.
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