BOSTON, April 27, 2006 - Fidelity Investments today announced it has been recognized by the Human Resources Outsourcing Association (HROA) with its client Bank of America Corporation, as exemplary partners and recipients of the Large Market Customer Relationship of the Year award for the HR outsourcing industry.
As part of a seven-year contract, Fidelity provides a wide range of outsourced human resources services to Bank of America's 186,000 active employees and 65,000 retirees, including information systems, payroll, health and wellness, defined benefit, defined contribution, time and attendance, recruiting, performance and talent management, learning, compensation planning and administration, stock plan services and global integrated data management.
"Bank of America's HR outsourcing arrangement with Fidelity is one of the largest and most comprehensive in the industry, and we've been firmly focused over the last year and a half on earning the trust Bank of America has bestowed upon us by providing them with the highest quality HR services possible," said Guy Patton, president, Fidelity Human Resources Services Company. "In light of that effort, it's a real honor to be recognized by a leading industry association for our work with such a valued client."
"Fidelity is a valued business partner and this award, as well as the services provided by our associates every day, is a result of our mutual commitment to working together toward the common goal of excellence for our workforce," said Kim Hains, senior vice president of global HR shared services, Bank of America.
The award was presented at the HRO Industry Awards Banquet on April 26 in conjunction with the 2006 HRO World Conference and Exhibition in New York City. The annual Human Resources Outsourcing Awards are sponsored and presented by the HROA and HRO Today magazine and award winners are selected by a panel of judges consisting of independent industry analysts who are actively involved in every facet of the HR outsourcing industry.
About Fidelity Employer Services Company
Fidelity Employer Services Company provides benefits and human resources administration, talent planning, payroll solutions and stock plan services to more than 20 million employees in the U.S. as of March 31, 2006.
About Fidelity Investments
Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of more than $2.6 trillion, including managed assets of over $1.2 trillion as of March 31, 2006. Fidelity offers investment management, retirement planning, brokerage and human resources and benefits outsourcing services to more than 21 million individuals and institutions as well as through 5,500 financial intermediary firms. The firm is the largest mutual fund company in the United States, the No. 1 provider of workplace retirement savings plans, one of the largest mutual fund supermarkets and a leading online brokerage firm. For more information about Fidelity Investments, visit www.fidelity.com.
About Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 54 million consumer and small business relationships with more than 5,700 retail banking offices, more than 16,700 ATMs and award-winning online banking with more than 19 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 79 percent of the Global Fortune 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.