Northern Secretary Hilary Benn has welcomed the announcement of up to 1,000 jobs for Belfast as "fantastic news".
Bank of America is set to create the posts as US companies announce investment plans ahead of a state visit by President Donald Trump to the UK next week.
It will be the first time the bank has operated in Northern Ireland.
It is part of a wider suite of investment announcements by US companies in the financial services sector which i is said will create 1,800 jobs in London, Edinburgh, Belfast and Manchester.
The move will see £1.25 billion committed by leading companies including PayPal, Bank of America, Citi Bank and S&P.
Northern Secretary Hilary Benn said: "This major US investment means up to 1,000 new jobs in Belfast with Bank of America's first Northern Ireland base, and further investment from Citigroup.
"This demonstrates Belfast's fast growing reputation as a city for international finance and technology."
Brian Moynihan, chair and CEO of Bank of America said: "The early US-UK trade agreement that the President and the Prime Minister began discussing in February has provided the business community with the certainty and framework it needs to strengthen transatlantic commerce.
"We are pleased to be able to extend Bank of America's investment in the UK with the creation of a new Belfast operations facility to support our global business, bringing up to 1,000 new opportunities to Northern Ireland."
Citi Group has confirmed it intends to invest £1.1 billion across it's UK operations, including a commitment to grow its operation in Belfast where it already employs 4,000 people.
The news was announced as President Trump finalises plans for a state vist to the UK from Wednesday.
