July 24, 2024


Expect exquisite business

Bank of America Names New CFO

Alastair Borthwick

Lender of The us introduced a management overhaul on Friday, replacing its finance main and adding five new associates to the senior management staff. 

Alastair Borthwick, president of global industrial banking, will be promoted to CFO in the fourth quarter. Borthwick joined the company in 2005 as head of global investment-quality financial debt money marketplaces and was earlier co-head of global money marketplaces. He spent the prior 12 a long time at Goldman Sachs.

The bank’s present-day CFO, Paul Donofrio, will become vice chair and will oversee sustainable finance and chair its sustainable marketplaces committee.

The five new management staff associates are main technologies and information officer Aditya Bhasin, main operations government Tom Scrivener, global standard counsel Lauren Mogensen, president of retail banking Holly O’Neill, and head of global industrial banking Wendy Stewart.

“These improvements situation the company with extremely energized leaders who are committed to driving dependable growth by way of its second decade — providing for our clients, communities, and shareholders and addressing main societal issues,” claimed chairman and main government officer Brian Moynihan. “As I shared with our board of directors, it will keep on to be my privilege to provide with them as CEO as we push dependable growth by way of its second decade.”

The management overhaul comes months soon after the lender introduced main operating officer Tom Montag would be retiring at the conclude of the year. Montag was viewed as the top candidate to thrive Moynihan if required.

Alastair Borthwick, Lender of The us, CFO, Management