The Acme Company is exploring many strategic options. Whichever global business strategy the Acme Company eventually chooses, the firm inevitably will require the services of a bank to help manage its working capital. Many major multinational banks provide a variety of working capital and multinational cash management services.
Here is a list of Acme's assumptions:
It will have subsidiaries in South America and Asia that import materials and parts and assemble for export.
It wants to centralize cash management.
It needs local lending sources for operating cash.
It needs short-term investment vehicles for excess cash balances.
It needs foreign exchange and forward market services.
It will have bills to pay in both local and other currencies.
Using the websites of a variety of these cross-border banks (starting with the banks listed below), search out the international banks that offer multinational cash management services that combine banking with foreign exchange management. Select one bank and describe how the services it offers will take care of Acme's international working capital management requirements. Be sure to demonstrate why you believe your choice is the best alternative among the banks you investigated (i.e., compare and contrast).
Bank of America
Answer is 2 page with references.