Bofa Partners with Hewitt, Plateau Systems, Merrill Lynch and Fidelity

April 6, 2010 – Bank of America will enter into key human resource partnerships with Hewitt Associates, Inc. and Plateau Systems with service starting in 2011 and narrow its relationship with Fidelity in a strategic move to deliver the next generation of human resources capabilities. The bank's new service delivery model uses multiple HR service providers, with one primary provider delivering the core human resources technology platform and operational integration with the other specialists. This model is expected to deliver costs and operational efficiencies as well as provide market-leading human resources technologies to the bank's managers and associates. It will also enable providers to focus on their core competencies and continue to provide a high level of service to associates. As part of a new five and a half year ongoing service contract, Hewitt – a global human resources consulting and outsourcing services company – will support human resources administration, payroll, and health and life management administration; provide enabling technology for timekeeping, recruiting applicant tracking; global talent and performance management and offer core service center support for all U.S. Bank of America associates. The global learning management system, provided by Plateau Systems, will be integrated into the Hewitt platform to manage the administration, delivery and tracking of learning and training across the Bank of America enterprise.

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