Originally known as the Bank of Italy, BankAmerica has expanded from "the little fellow's bank" to the second largest bank in the U.S. In addition to providing a comprehensive range of financial services through domestic offices, BankAmerica is a pioneer in electronic banking through its World Banking Division (WBD). It now offers various systems to countries through-out Europe, Asia and in Latin America. WBD also recently established a Shanghai office, the only resident office of a U.S. bank in that city, and plans further additions to its 38 offices worldwide.
Professional staff
BankAmerica has a total of 83,500 employees. During the past 12 months, 200 people were hired for WBD. Professional employment figures for WBD and for the corporation as a whole are unavailable.
Qualifications
Most opportunities with BankAmerica are open to applicants with a BA or MA in finance, accounting, administration and law. Previous work experience is not essential. However, knowledge of German, Spanish, Japanese, Chinese or Russian may enhance one's application.
Training program
Approximately 30 trainees, who participate in an annual program lasting 9-12 months, are trained in all aspects of international credit and operations.
Internships
Both undergraduate and graduate students are eligible for paid summer internships. Interns work on special projects. Applicants are interviewed by a team of BankAmerica college recruiters.
Application procedure
BankAmerica recruits on college campuses and in graduate schools. Persons interested in BankAmerica's international work should address applications to:
World Banking Division
BankAmerica
BOTT is rated the 60th largest commercial bank in the U.S. It is a wholly owned subsidiary of the Bank of Tokyo, Ltd., one of the world's largest banks, which is headquartered in Japan. The parent organization serves as Japan's leading foreign exchange and international financial services bank. The bank operates 33 branches in Japan and 250 overseas offices, subsidiaries and associated institutions throughout Africa, Asia, Latin America, the Middle East, North America, Oceania and Western Europe.
BOTT provides a wide scope of international financial services-including domestic and international lending facilities, export and import services, financial advice, cash management, corporate trust services, merger and acquisition support and money-market trading. The Japanese Corporate Department primarily serves major Japanese high technology, electronics, communications, steel, trading and oil corporations in their U.S. business activities. Other specialized departments assist large American companies and multinational corporations in facilitating transactions with Japanese companies. Several departments provide conventional banking activities to major U.S. corporations throughout the U.S. Two international departments within the bank are responsible for generating business among public entities and for operations.
Professional staff
The U.S. staff includes 250 people. During the past year, 15 were hired, none for the international departments. At present, all locally hired staff work at the subsidiary in New York City. This policy may change.
Qualifications
Academic prerequisites vary with the position. Previous work experience is not essential for employment. Although knowledge of foreign languages is usually not required, some positions may require applicants with language fluency. Domestic travel is occasionally required.
Training program
Although there is no formal training program, the BOTT does offer apprenticeships to college graduates. On-the-job training gives participants the opportunity to tailor their intellectual skills and curiosity to their positions. In seeking candidates for apprenticeships, the bank stresses two characteristics-intellectual development and an international sensitivity. In concrete terms, this translates into academic studies in international affairs, international economics, history or languages. Exposure to a foreign culture from living or studying overseas for a year or more is valued at BOTT. The number oppositions varies; 10 apprentices were accepted in the past year.
Chemical Bank New York, NY
Chemical, the sixth largest bank in the U.S., provides a range of financial services to individuals, corporations, financial institutions and governments. Two groups operate internationally. The World Banking Group (WBG) has offices in 33 countries throughout the world and headquarters in New York City. Its purpose is to loan money to foreign governments and corporations. The other group, Capital Markets, trades foreign currency and has offices in Tokyo and London with headquarters in New York.
Professional staff
There are 4,500 professionals in the U.S. and 562 overseas. Most work for one of the two international groups. Of the overseas personnel, 85 are Americans, and 60-65 of these work for WBG. In the past year, 15 trainees were hired for the international departments. The bank has recently been trying to hire more foreign nationals for its overseas positions.
Qualifications
Interested applicants should have an MBA, MIA, MA or MS in economics or international affairs. A few people with BA degrees are accepted for the WBG training program, but because of their inexperience they generally must wait more than two years before they can be sent abroad. Knowledge of languages, particularly Japanese or Spanish, is normally required for international positions, as is willingness to travel or live abroad. Previous experience is not required, nor is overseas experience, although it can be useful. The bank recruits on college and graduate-school campuses.
Training program
Chemical runs training programs for both the WBG and the Capital Markets Group. For WBG, the program runs seven months for people
Internships
Students between the first and second years of an MBA program or between the junior and senior years in college are hired as paid summer interns. They work on special projects throughout the bank. In addition, the bank has a small paid intern program for minorities between their junior and senior years in college. A few positions in international departments may be available, but interns are not sent abroad. Former interns are often recruited for permanent employment or training.
