Nine out of 10 Global Decision-makers Believe Collaboration Is now Essential if Global Economy Is to Recover - Finds Bank of

  Nine out of 10 Global Decision-makers Believe Collaboration Is now Essential
  if Global Economy Is to Recover - Finds Bank of America Survey on “The
  Connection Imperative” for WEF 2013 in Davos

 “Government and Business Should Assert the Value of Global Connectivity and
                            Collaborative Efforts”

Business Wire

DAVOS, Switzerland -- January 23, 2013

“At a time of continuing economic uncertainty, nine out of 10 global
decision-makers now believe greater collaboration between business, government
and other sectors is essential if the world’s economy is to recover.”

This was the main finding of a recent study by PSB, as part of research Bank
of America is conducting to better understand customers and clients.

The survey of more than 2,000 global decision-makers across business,
government and non-governmental organizations (NGOs) reveals an overwhelming
demand for increased collaboration, if significant global growth is to return
within the next five years.

Governments and business should assert the value of greater connectivity and
collaborative working

Many decision-makers feel governments should assert the value of greater
connectivity, while businesses should also lead with more inspiring examples
of best practice, valuable high-profile partnerships and the development of
more leaders within organizations who value and encourage collaborative
thinking.

Those polled supported the sectoral connectivity and economic benefit that is
already flowing from projects such as local public-private partnerships to
improve educational standards in Brazil, and business partnerships in South
Asia where a leading global food company is partnering with local suppliers
and international NGOs to improve the efficiency and sustainability of their
palm oil supply chain. Economic regeneration is also a major theme for
partnerships, and in Europe, the London 2012 Games were also cited by
respondents as a leading example of collaboration, with businesses, government
and NGOs coming together to help regenerate the East End of London.

The "Connection Imperative" Survey, released today, shows that such global
connectivity appears likely to increase, with more than 40 percent of those
polled expressing a greater desire for collaboration over the next five years.

Commenting on the survey findings, Bank of America’s Chief Executive Officer
Brian Moynihan said, “Leaders around the world recognize the value and need
for greater global collaboration. As we move the economy and markets forward,
one of the touchstones to the decisions we make must be to recognize that
harnessing the power of connections is a force for great good that fuels
scientific breakthroughs, remarkable economic achievements, and social
progress.”

The survey, which was conducted across 12 countries, including Brazil, China,
France, Germany, India, Italy, Japan, Mexico, Russia, South Africa, the U.K.
and the U.S. last month, also finds that diversity has a vital role to play in
global recovery in terms of the need for fresh ideas, new ways of working,
varied staff backgrounds and wider experience of other sectors.

Greater representation of women in leadership roles will be influential

Nearly 90 percent of the decision-makers questioned believe the global economy
needs a more diverse generation of business leaders to drive greater
collaboration, and nearly 70 percent say greater representation of women in
leadership roles will be influential in encouraging greater collaboration
between organizations in the future.

Bank of America’s Global Strategy and Marketing Officer Anne M. Finucane said,
“The world needs a more diverse generation of business leaders to drive
greater global collaboration. If the recent global economic crisis taught us
anything, it is that the world can be a better place when we collaborate to
address the challenges of our connected globe.”

Optimism over return of global growth if power of connectivity is effectively
harnessed

Looking ahead, the survey also found that eight of 10 influencers believe
there are now seeds of optimism over the return of global growth, if the power
of connectivity is effectively harnessed.

To access the full survey, please visit www.bankofamerica.com or
http://about.bankofamerica.com/en-us/partnering-locally/world-economic-forum-2013.html.

The “Connection Imperative” Survey for WEF 2013 – Objectives and Methodology

On behalf of Bank of America (BAC), PSB conducted a poll of 2,112 global
decision-makers drawn from the worlds of business, government, and NGOs in
twelve markets (Germany, France, Italy, Russia, U.K., Brazil, Mexico, U.S.,
China, India, Japan, and South Africa). The respondents have a university
education, top-decile income, and decision or policy making authority for
their organization (with more than 100 employees).

The purpose was to better understand:

  *Their assessment of the current economic situation.
  *When and where they expect growth to emerge.
  *The perceived barriers to growth.
  *Whether building connections and collaboration between organizations can
    help businesses grow in the future.
  *Who is and who should be driving those connections and facilitating
    collaboration.

For comparability, the sample in each market was weighted to:

  *Form 1/12^th of the global total.
  *Ensure that 75 percent worked in the private sector.
  *The margin of error is +/- 2.1 percent, larger for sub-groups. Tables may
    not always add up to 100 percent due to rounding or being a multi-punch
    question.

Bank of America

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of America offers industry-leading support to approximately 3 million small
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                            www.bankofamerica.com

Contact:

Reporters May Contact:
For EMEA:
John McIvor, Bank of America, +44.020.7995.8347
john.mcivor@baml.com
Victoria Garrod, Bank of America, +44.77.3801.1500
victoria.garrod@baml.com
For AsiaPac:
Mark Tsang, Bank of America, +852.2536.3366
mark.tsang@baml.com
For the U.S.:
Scott Silvestri, Bank of America, +1.980.388.9921
scott.silvestri@bankofamerica.com
 
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