Bank of America vs Walmart: Founders, CEOs and History
Bank of America was founded in 1904 by Amadeo Peter Giannini and is led by Brian Moynihan. Walmart was founded in 1962 by Sam Walton and is led by John Furner.
Company facts
Bank of America
- Founded
- 1904
- Headquarters
- Charlotte, North Carolina
- Current CEO
- Brian Moynihan
- Employees
- 213,000
Walmart
- Founded
- 1962
- Headquarters
- Bentonville, Arkansas
- Current CEO
- John Furner
- Employees
- 2,100,000
Founders
Bank of America
Amadeo Peter Giannini
Bank of America was founded by A. P. Giannini, the San Jose-born son of Italian immigrants. In 1904 he opened the Bank of Italy in a converted saloon in San Francisco's North Beach neighborhood. His aim was unusual for the time: to lend to working people.
Walmart
Sam Walton
Sam Walton opened the first Walmart Discount City in Rogers, Arkansas in 1962 and built the company around low prices, low costs, and its own distribution network. He served as CEO until 1988 and remained chairman until his death in 1992.
CEOs and their tenures
Bank of America
- Amadeo Peter Giannini1904–1945
Founder and Chairman
Giannini was born in San Jose, California, in 1870 to Italian immigrant parents and sold fruit and vegetables from a horse-drawn wagon before opening the Bank of Italy in San Francisco at the age of 34.
Source - Hugh L. McColl Jr.1998–2001
Chairman and Chief Executive Officer
McColl joined the company in 1959 as a management trainee and built NationsBank through interstate acquisitions before its 1998 combination with San Francisco based BankAmerica, which took the Bank of America name and created the first coast-to-coast U.S.
Source - Ken Lewis2001–2009
Chairman and Chief Executive Officer
Lewis joined the company in 1969 as a credit analyst, ran corporate strategy from 1999, and became chairman and chief executive officer on April 25, 2001 when Hugh McColl retired.
Source - Brian Moynihan2010–present
Chair of the Board and Chief Executive Officer
Moynihan became chief executive officer on January 1, 2010, after running the general counsel, consumer banking and wealth management units, and he also chairs the board.
Source
Walmart
- Sam Walton1962–1988
Founder and CEO
Founded Walmart and set its low-price, low-cost operating approach.
Source - Doug McMillon2014–2026
Former President and CEO
Led Walmart's push into ecommerce, marketplace, advertising, and store-fulfilled delivery, and oversaw the Jet.com, Flipkart, and VIZIO deals.
Source - Greg Penner2015–present
Chairman of the Board
He successfully managed the transition of corporate leadership to Doug McMillon and actively oversees the Walton family's controlling stake in the retail giant.
Source - John David Rainey2022–present
Executive Vice President and CFO
As CFO, he aggressively executed multi-billion-dollar share repurchases while funding massive capital expenditures for store remodels and automation.
Source - John Furner2026–present
President and CEO
Became President and CEO on February 1, 2026, succeeding Doug McMillon. He reshaped the executive team with internal promotions in January 2026.
Source - David Guggina2026–present
President and CEO, Walmart U.S.
As head of supply chain operations, he modernized the underlying logistics network that allowed Walmart to successfully compete with Amazon's two-day delivery speeds.
Source
Timeline: Bank of America and Walmart side by side
1904Bank of America
Bank of Italy Founded
A.P. Giannini founded the Bank of Italy in San Francisco to expand access to banking for immigrants, wage earners, and small merchants.
1906Bank of America
San Francisco Earthquake Response
After the 1906 earthquake, Giannini resumed lending while much of San Francisco's banking system was disrupted. The response turned emergency access to credit into lasting customer trust and became a defining story in the bank's retail identity.
1930Bank of America
Bank of Italy Renamed Bank of America
The Bank of Italy changed its name to Bank of America on November 1, 1930. The rebrand reflected a wider consumer and business ambition beyond the original immigrant-community label.
1958Bank of America
BankAmericard Introduced
Bank of America introduced BankAmericard in 1958, a revolving-credit card that later became part of the Visa system. The product tied the bank to modern consumer credit, merchant acceptance, and payment-network economics.
1962Walmart
First Walmart Opens
Sam Walton opens the first Walmart Discount City in Rogers, Arkansas.
1970Walmart
Walmart Goes Public
Walmart sells shares to the public to fund expansion.
1983Walmart
Sam's Club Launches
The first Sam's Club warehouse club opens in Midwest City, Oklahoma.
1988Walmart
First Supercenter and New CEO
Walmart opens its first supercenter, and David Glass succeeds Sam Walton as CEO.
1998Bank of America
NationsBank and BankAmerica Merge
The 1998 merger of Charlotte-based NationsBank and San Francisco's BankAmerica created the first coast-to-coast U.S. bank under the Bank of America name. It also shifted the modern company's headquarters center to Charlotte.
2000Walmart
Lee Scott Becomes CEO
Lee Scott succeeds David Glass as CEO.
2006Bank of America
MBNA Merger Completed
The MBNA merger expanded the card business to more than 40M active accounts and nearly $140B in managed balances, according to the company's January 2006 release. That size made cards a more important part of consumer banking revenue and risk.
2008Bank of America
Countrywide Acquisition Approved
The Federal Reserve approved Bank of America's acquisition of Countrywide in June 2008. The deal added mortgage scale but later became a costly warning about buying distressed loan portfolios during a housing crisis.
2008Bank of America
Merrill Lynch Acquisition Approved
The Federal Reserve approved the acquisition of Merrill Lynch in November 2008. Although the integration was controversial, Merrill became central to the company's wealth-management and investment-banking fee base.
2014Bank of America
Mortgage Settlements With the Justice Department and FHFA
Bank of America agreed in August 2014 to a $16.65B settlement with the Justice Department over mortgage claims tied to Countrywide and Merrill Lynch, following a March 2014 FHFA agreement with an aggregate payment of about $9.33B.
2014Walmart
Doug McMillon Becomes CEO
Doug McMillon, who started as an hourly associate in 1984, becomes CEO.
2016Walmart
Jet.com Acquisition
Walmart buys Jet.com for about $3.3 billion to strengthen its U.S. ecommerce team.
2018Bank of America
Erica Launched
Bank of America launched Erica in 2018 as an AI-enabled virtual assistant inside digital banking. The launch mattered because customer service, insights, and routine account tasks were moving from branches and call centers into mobile channels.
2018Walmart
Flipkart Investment
Walmart acquires a majority stake in Flipkart for about $16 billion.
2023Bank of America
CFPB and OCC Orders on Fees, Rewards and Accounts
In July 2023 the CFPB ordered Bank of America to pay more than $100M to customers for repeat non-sufficient-funds fees, withheld credit card rewards and unauthorized accounts, plus $90M in CFPB penalties, and the OCC added a $60M penalty.
2024Walmart
VIZIO Acquisition
Walmart completes its $2.3 billion purchase of smart-TV maker VIZIO to expand its advertising business.
2025Bank of America
$113.1B FY2025 Revenue
The company reported $113.1B in total revenue net of interest expense and $30.5B in net income for FY2025. The result showed the combined scale of deposits, wealth management, cards, payments, global banking, and markets.
2025Bank of America
Co-Presidents Named
On September 12, 2025 Bank of America named Dean Athanasia and Jim DeMare Co-Presidents and gave Chief Financial Officer Alastair Borthwick the added title of executive vice president.
2026Walmart
John Furner Becomes CEO
John Furner succeeds Doug McMillon as President and CEO effective February 1, 2026; David Guggina takes over Walmart U.S.
2026Walmart
Q2 FY27 Results
Walmart reports Q2 FY27 revenue of $187.9 billion, up 5.9%, and raises full-year sales and operating income guidance.
Acquisitions
Bank of America
- Countrywide Financial2008$4B
- Merrill Lynch2008$50B
- LaSalle Bank2007$21B
- MBNA2006$35B
- FleetBoston Financial2004$47B
- BankAmerica / NationsBank merger1998$43B
Questions about Bank of America vs Walmart
Who is the CEO of Bank of America Corporation and Walmart Inc.?
Bank of America Corporation is led by Brian Moynihan and Walmart Inc. is led by John Furner. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Bank of America Corporation founded vs Walmart Inc.?
Bank of America Corporation was founded in 1904 — 58 years before Walmart Inc., which was founded in 1962. Bank of America Corporation's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Walmart Inc..
How many employees does Bank of America Corporation have compared to Walmart Inc.?
Bank of America Corporation employs approximately 213,000 people, while Walmart Inc. employs approximately 2,100,000. Walmart Inc. has the larger workforce at 2,100,000 employees, compared to Bank of America Corporation's 213,000. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Bank of America Corporation and Walmart Inc. headquartered?
Both Bank of America Corporation and Walmart Inc. are headquartered in United States, meaning they operate under the same primary regulatory and tax environment.
Who founded Bank of America Corporation and Walmart Inc.?
Bank of America Corporation was founded by Amadeo Peter Giannini. Walmart Inc. was founded by Sam Walton.
Which company has a longer operating history — Bank of America Corporation or Walmart Inc.?
Bank of America Corporation has been operating for approximately 122 years, making it the more established of the two companies. Walmart Inc. has been in operation for around 64 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Bank of America vs Walmart overview