University honors corporate figure
Campus Times
March 19, 1999
Liam E. McGee, named president of Bank of America in June, spoke at
ULV's Corporate Associates Spring Business Lecture and Luncheon at the Sheraton
Suites Fairplex on Wednesday. In the speech, he addressed topics ranging
from the economics of Southern California to competing banks. A question
and answer session followed the event.
Liam E. McGee was the featured spokesperson at the annual Spring Business
Lecture and Luncheon, which took place at the Sheraton Suites Fairplex in
Pomona, on Wednesday.
McGee was named president of Bank of America-Southern California in
June 1998. In this position, he gained a unique responsibility, dealing
with commercial and consumer banking, the company's largest market.
Sponsored by the University of La Verne's Corporate Associates, many
ULV administrators and employees attended the lecture to honor McGee for
successfully managing Bank of America, the largest company in Southern California
today. McGee also largely contributed to the successful merger of BofA and
Security Pacific National Bank in 1992.
According to McGee's biography, "before assuming his current responsibilities,
he was group executive vice president in charge of Bank of America's National
Customer Support Services, an organization that employs more than 10,000
people and provides operational, technological systems and purchasing support
to every level of the Bank of America Corporation."
President Stephen Morgan gave a brief introduction to welcome everyone
who attended the lecture and point out some of the new programs the University
is currently initiating.
"We are now carefully positioning our College of Law, so that in
the near future they will be able to apply for ABA [American Bar Association]
approval," said Dr. Morgan.
In addition to these recent changes, ULV is also in the process of developing
a School of Education.
"We have great strength in training teachers and administrators.
When we bring all of that together under one umbrella and form the School
of Education, we will be able to contribute to the issues that face California
students from K [kindergarten] through college," Dr. Morgan said.
Dr. William Relf, dean of the School of Business and Global Studies,
introduced McGee as he began his speech, titled "Dramatic Changes in
Banking -- It's Not Your Father's Bank."
McGee explained that the title of the speech implies that "today's
reality of banking is no longer an institution, it is a growing business."
One major issue addressed in the lecture was how technology in recent
years has enabled BofA to serve its customers in a much more efficient manner.
These benefits include hundreds of branches, approximately 15,000 automatic
transaction machines throughout Southern California and the ability of customers
to pay bills and transfer funds via telephone.
"Over 60 percent of all transactions are the result of technology,
and I am confident that our company will continue to lead the way in consumer
banking," said McGee.
McGee also discussed his responsibility for many different contributions
made by BofA. This year, $10 million will be set aside for different charities.
"We have the opportunity and obligation to serve the community
by financing the construction of safe and affordable places to live,"
he said.
Another contribution important to McGee is the enhancement of literacy
and education in the United States. About $2.5 million has been reserved
to support literacy.
"Bank of America and I have a big stake in the future. Education
is the means by which we can build a better tomorrow," McGee said.
He addressed another important issue about how the economy has become
stronger in recent years as a result of more small companies emerging with
ethnic diversity in business ownership.
This has become an evident trend in Southern California that has contributed
to the creation of thousands of jobs.
"Los Angeles County has created more jobs in the past year than
anywhere else, making unemployment decrease significantly in Southern California,"
he said.
In regards to education, Liam McGee had some words of wisdom for students
pursuing their futures in college.
"When you're in college in particular, the best thing is to get
a diverse education.
"In my experience, the world is changing so much that becoming
an expert in many subjects is the key to success."
