Chair of the Board and Chief Executive Officer. Alastair Borthwick. Brian T Moynihan, CEO of the bank said . Opinions or ideas expressed are not necessarily those of Bank of America nor do they reflect their views or endorsement. Carter Johnson. Managing Director, PWM Market Executive. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, BofA Securities, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Merrill Lynch Professional Clearing Corp., all of which are registered broker-dealers and Members ofSIPC, and, in other jurisdictions, by locally registered entities. Those companies . Bank of America's chief marketing officer, Meredith Verdone, will leave banking this year, she said Friday on Twitter. Through his position as Chief Executive Officer of PepsiCo International, Mr. White has international experience as well as broad knowledge of retail and distribution issues. Montag, who is also retiring as president of GlobalBanking and Markets at BofA, was responsible for all business associated with companies and institutional investors at thebankin addition to his responsibilities as COO. Top bank . 10 execs from top US banks, including Chase, Wells Fargo, and Bank of America, highlight their strategies for the new version of branch banking. In 2019, at least 95% of the participants surveyed said the program helped enhance their leadership skills, which resulted in new sponsors, increased responsibilities and . 06, 2022. Alvaro de Molina will become head of the global corporate and investment bank, succeeding Edward. The fine, which also includes a $15 million penalty against Bank of America, brings . The employee data is based on information from people who have self-reported their past or current employments at Bank of America. Insurance and annuity products are offered through Merrill Lynch Life Agency Inc. (MLLA), a licensed insurance agency and wholly-owned subsidiary of BofA Corp. Investment products offered through MLPF&S and insurance and annuity products offered through MLLA: "Bank of America" is the marketing name for the global banking and global markets business of Bank of America Corporation. As the government increased its pressure on the bank to write off tens of billions worth of mortgage debt, the bank said that doing so would discourage those who had been regular in repaying their debt to the bank. 3750 . The data presented on this page does not represent the view of Bank of America and its employees or that of Zippia. Lead Independent Director, Bank of America Corporation; Former SVP and Treasurer, PepsiCo, Inc. Mr. Nowells role as former Treasurer of PepsiCo, Inc. (Pepsi) enables him to bring his strong financial expertise and extensive global perspective in risk management and strategic planning to our Board. Some bankers, however, are still able to make a killing in the industry, and bank CEOs can still earn as much as 20 million ($26.2 million) a year in salaries, bonuses, and stock awards. POLITICO Q&A: Bank of America CEO Brian Moynihan, Insider Q&A: Brian Moynihan, CEO of Bank of America, Bank of Americas CEO has a message for governments on carbon markets: Give us a price, Why Financing the Multi-Trillion-Dollar Transition to Net Zero Isnt That Hard. Through his public company board service, he has experience in governance, financial reporting, accounting of large international and regulated businesses, and board leadership. . Bank of America has been recognized as a leader in financial services, including on Fortune magazines list of Worlds Most Admired Companies and Best Big Companies to Work For, named Global Finances Best Bank in the United States and North America in 2020 and placed on Forbes Worlds Best Employers List in 2019. Served as Senior Vice President at Avon Products, Inc. Certain links may direct you away from Bank of America to an unaffiliated site. New York: Bank of America Corp., the second- biggest US lender, eliminated some managers from a unit catering to wealthy families as it seeks to cut costs, said two people with knowledge of the move. Terms of Use. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue. 2022 Bank of America Corporation. Both Finucane and Montag will remain in their roles at Bank of America until the end of the year. He had been with the company since joining one of its predecessors in 1989. Please note that all salary figures are . Bank of America's key executives include Brian T. Moynihan and 40 others. CEO Name. Statistics and metrics included in our ESG documents are estimates and may be based on assumptions or developing standards. you can opt out of online behavioral advertising, Appointed Chair of the Board of Directors of Bank of America Corporation in October 2014 and President and Chief Executive Officer in January 2010. Global Technology and Operations Executive: This professional is responsible . Brian Moynihan leads a team of more than 200,000 employees dedicated to making financial lives better for people, companies of every size, and institutional investors across the United States and around the world. Bank of America's senior technology leadership is changing once again. Company goals are aspirational and not guarantees or promises that all goals will be met. 2022 Bank of America Corporation. October 5, 2022 6:00 AM. REUTERS/Denis Balibouse. Total Compensation. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation, offer or solicitation for the purchase or sale of any security, financial instrument, or strategy. Gender: Both. Bank of America reported net revenue increased 8% to $24.5 billion for the quarter, beating estimates. Dr. Roses PhD research and studies at the University of Pennsylvania in sociology with a focus on issues of race in America, and leadership of diversity, equity, and inclusion initiatives at JPMorgan Chase, gives him insight into human capital management issues, including diversity, equity, and inclusion. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. NEW YORK, April 22 (Reuters) - The latest call for brokers to accept pending regulatory reform comes from a surprising source - one of the industry's top executives. Content contained herein may have been produced by an outside party that is not affiliated with Bank of America or any of its affiliates (Bank of America). He Quietly Turned Bank of America Around. 'Don't lose sight of why': Bank of America CEO Brian Moynihan on importance of ESG in business, Americas Banker: Brian Moynihan, 2020 CEO Of The Year, How Bank of America's CEO is Combating Economic Inequality, Banker of the Year 2020: Brian Moynihan, Bank of America, BofAs CEO Kept Workers on the Job During the Pandemic, and Pledged Big Bucks to Tackle Inequality, Congressional Medal of Honor Foundation Board, National Museum of African American History and Culture, YouTube:2022 World Citizen Award Dinner Honoring Brian Moynihan, Chair and CEO of Bank of America. Can He Do More? Investment banking revenue declined 46% in the quarter, but less than the 47% drop . CEO Pay. Andy Sieg, president of Merrill Lynch Wealth Management and Katy Knox, president of Bank of America Private Bank will continue in their current roles. Content contained herein may have been produced by an outside party that is not affiliated with Bank of America or any of its affiliates (Bank of America). The Women's Next Level Leadership Program at Bank of America is an eight-month virtual experience that addresses the unique challenges diverse women face in advancing their careers and provides strategies to be successful. See our DEI Data Index and Industry Reports to compare your workforce diversity to your peers. Anything missing? While this year marks the 20th anniversary of the Most Powerful Women in Banking, a separate finance list didn't appear until 2008. Served as a member of the Boards of Directors of XL Group, plc, Federal Home Loan Mortgage Corporation (Freddie Mac), and Mercantile Bankshares Corp. With a total number of 59,426 employees in the house and worldwide branches, PNC bank is another significant rival of Bank of America presently. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. It was also the 2019 Catalyst Award winner for supporting the continued development, empowerment and advancement of women in the company and around the world, and is recognized annually as a top employer by Working Mother, LATINA Style, Black Enterprise, Military Times and U.S Veterans Magazine. Brian T. Moynihan Chair and CEO, Bank of America Corporation View Bio Lionel L. Nowell III Lead Independent Director, Bank of America Corporation; Former SVP and Treasurer, PepsiCo, Inc. View Bio Sharon L. Allen Former Chairman, Deloitte LLP View Bio Frank P. Bramble, Sr. Former Executive Vice Chairman, MBNA Corporation View Bio As you can see in the chart above, Moynihan's $12 million in total compensation was far overshadowed by Montag's $14.5 million . He is on the board of Bank of America Corp. and Vice President . Bank of America. $10,955,546. Began his career as an audit clerk at the First National Bank of Maryland, Emeritus member of the Board of Visitors of Towson University and guest lecturer in business strategy and accounting from 2006 to 2008, Served as the Chairman and Global Head of Private Wealth Management and as a member of the Group Executive Committee of Deutsche Bank from 2002 to May 2012, Served on the Management Board of UBS from 1994 to 2001; as Head of Institutional Banking from 1994 to 1997; as Chief Credit Officer and Head of Private Equity from 1998 to 1999; and as Head of Private Equity from 2000 to 2001, Held various senior management positions at Union Bank of Switzerland, a predecessor firm of UBS, from 1985 to 1994, Currently serves as Chair of the Board of Directors of MLI (and previously chair of the MLI Boards Risk Committee), and as Chair of the Board of Directors of BofASE, Former President and Chief Executive Officer of Carnival, a cruise and vacation company, Served as President and Chief Executive Officer from November 2010 to June 2012 of The Executive Leadership Council, a nonprofit organization providing a professional network and business forum to African-American executives at major U.S. companies, President and Chief Executive Officer of the Juvenile Diabetes Research Foundation International from January 2006 to February 2008, Served as Chairman and Chief Executive Officer of Merisant from 2000 to 2003, a privately held global manufacturer of tabletop sweeteners, and remained as Chairman until 2005, Joined Monsanto in 1977 and held several senior leadership positions with global responsibilities, including President of its Agricultural Group and President of its Nutrition and Consumer Sector, over a more than 20-year tenure, Served as a member of the Board of Directors of Crown Holdings, Inc. from 1999 to 2019 and member of its Compensation Committee, Appointed by President Clinton and re-appointed by President George W. Bush to the Presidents Export Council, Chairman and Chief Executive Officer of The Cardea Group, LLC, a management consulting business, May 2014 to January 2020, Served as CEO Emeritus of BAE, a U.S.-based subsidiary of BAE Systems, a global defense, aerospace, and security company headquartered in London, from February 2014 to May 2014, and as President and Chief Executive Officer of BAE from October 2009 until January 2014, Served as President of BAE Systems Land and Armaments operating group, the worlds largest military vehicle and equipment business, from October 2006 to October 2009, Prior to joining BAE, served as Vice President of General Dynamics Corporation and President of its Armament and Technical Products business; held various positions in engineering, production operations, program management, and business development for defense and aerospace companies, Served as a member of the Executive Committee and as an executive director of BAE Systems from 2009 until January 2014 and as a member of the Board of Directors of BAE from 2009 to April 2015, Served as a member of the Board of Directors of The Southern Company and its Nominating, Governance and Corporate Responsibility Committee and Operations, Environmental and Safety Committee from 2014 to July 2018, Member of the Board of Directors of Trane Technologies plc (formerly Ingersoll-Rand plc) and its Human Resources and Compensation Committee, Sustainability, Corporate Governance and Nominating Committee, and Technology and Innovation Committee, Member of the Board of Directors of TPI Composites, Inc. and its Nominating and Corporate Governance Committee, Elected member to the National Academy of Engineering, one of the highest professional honors accorded an engineer, Member of the Board of Directors of the University of Florida Foundation, Inc. and the Advisory Board of the University of Florida Engineering Leadership Institute, Former member of the Charlotte Center Executive Board for the Wake Forest University School of Business, Former member of the Board of Trustees of Discovery Place, a nonprofit education organization dedicated to inspiring exploration of the natural and social world, Former Chief Executive Officer of College Futures Foundations from December 2017 to July 2022 and member of the Board of Directors from December 2019 to July 2022. $1.5 million: $24.8 million: Bank of America: Joe L. Price . Bank of America is 57% female and 43% male company-wide. Bank of America may also be known as or be related to Banc of America Securities LLC, Bank Of America, Bank of America, Bank of America Corporation, Bank of America, N.A. Mr. Almeidas public company board service includes extensive experience in public company corporate governance, talent development, executive compensation, and succession planning. She currently handles BofAs strategic positioning, sustainable finance and public policy efforts, among other responsibilities. Statistics and metrics included in our ESG documents are estimates and may be based on assumptions or developing standards. Her public company board service for Target Corporation and Apple Inc., her past public company board service for The Walt Disney Corporation, and her past roles with the University of California and the University of Southern California give her board-level experience overseeing large organizations with diversified operations on matters such as governance, human capital management, executive compensation, risk management, and financial reporting. Salary information comes from 3 data points collected directly from employees, users, and past and present job advertisements on Indeed in the past 36 months. BofA Securities, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA. 52 corporations, most of them members of the S&P 500, contributed to these averages. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue. The estimated total pay for a Executive Director at Bank of America is $343,967 per year. If you prefer that we not use this information, you can opt out of online behavioral advertising. Moynihan began with his analysis of the. When you visit these sites, you are agreeing to all of their terms of use, including their privacy and security policies. Finucane joined FleetBank, which merged withBankofAmericain 2004, 26 years ago. Former Executive Vice Chairman, MBNA Corporation. Mr. Bramble brings broad-ranging financial services experience, international experience, and historical insight to our Board, having held leadership positions at two financial services companies acquired by our company (MBNA Corporation, acquired in 2006, and MNC Financial Inc., acquired in 1993). Bank of America late Tuesday unveiled a number of executive moves in various business units.. BofA Securities, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue. View company reviews & ratings. Touch device users, explore by touch or with swipe gestures. 10% of the management team is Black or African American. Job Outlook. Certain links may direct you away from Bank of America to an unaffiliated site. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Chair of the Board and Chief Executive Officer, Bank of America Institute Launches with Monthly Consumer Checkpoint, Bank of Americas Community Development Financial Institution Loan Portfolio Surpasses $2 Billion, The Executive Leadership Council Honors F500 CEOs and Corporations for Advancing Black Leadership at 2021 ELC Annual Recognition Gala, The Prince of Wales to Meet G7 Leaders and CEOs to Call for Coordinated Action to Tackle Climate Change, Bank of America Surpasses Equity Investment Goal of $200 Million and Increases Target to $350 Million to Support Minority Entrepreneurs, Mark Carney, UN Race to Zero Campaign and COP26 Presidency Launch Net Zero Financial Alliance with World's Biggest Banks, Asset Owners, Asset Managers and Insurers, Bank of America Increases Commitment to Advance Racial Equality and Economic Opportunity to $1.25 Billion, Council on Competitiveness Announces New Chairman, Mr. Brian Moynihan, Chairman and CEO, Bank of America, Bank of America Announces Actions to Achieve Net Zero Greenhouse Gas Emissions before 2050, Bank of America Announces Investments in 40 Private Funds Focused on Minority Entrepreneurs for Approximately $150 Million, Global Business Leaders Support ESG Convergence by Committing to Stakeholder Capitalism Metrics, Brian Moynihans Leadership at Bank of America Means Less Stress for Shareholders. February 6, 2020, Bloomberg Markets and Finance Mr. Yosts roles as the former Chief Executive Officer of AmerisourceBergen Corporation (AmerisourceBergen) and its predecessor company enable him to bring his broad experience in strategic planning, regulated industries, risk management, and operational risk to our Board. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). These materials are for informational purposes only. 212.852.3576. The five new management team members are Bhasin, Scrivener,. Bank of America does not assume liability for any loss or damage resulting from anyone's reliance on the information provided. At the time, the list was called "The Top 24 Nonbank Women in Finance." At the top of the list that year was Nicole Arnaboldi, vice chair of alternative investments at Credit Suisse. Bank of America has not been involved in the preparation of the content supplied at the unaffiliated sites and does not guarantee or assume any responsibility for its content. Mr. Nowells membership on the advisory council at a large, public university provides him with further experience with the oversight of large, complex organizations. Her leadership positions with Deloitte give her broad management experience with large, complex businesses and an international perspective on risk management and strategic planning. All rights reserved. The World's Most Influential Chief Executives Of 2022. As a former Chairman and Global Head of Private Management, and member of the Group Executive Committee of Deutsche Bank, Mr. de Weck has broad experience in risk management and strategic planning, and . As of 2022, Brian Moynihan's net worth was estimated to be between 80-100 million USD. Launch - January 2023 Pricing. The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina.The bank was founded in San Francisco and took its present form when NationsBank of Charlotte acquired it in 1998. His experience heading The Executive Leadership Council and the Juvenile Diabetes Research Foundation International gives him a distinct perspective on governance matters, social responsibility, and diversity. Chairman and CEO. Vice President for Research and E.A. D. Steve Boland. Currently chairs the Board of Trustees for the Howard Hughes Medical Institute and chaired its Audit and Compensation Committee. The most common ethnicity among Bank of America executive officers is White. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. 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