#United States #Bank of America #Charlotte, N.C. #Dean Athanasia #Jim DeMare

Bank of America Elevates Its Leadership Team

Bank of America has officially announced significant changes in its senior leadership, aimed at enhancing its capabilities on a global scale. This strategic move, communicated by Chair and CEO Brian Moynihan on September 12, 2025, involves the appointment of Dean Athanasia and Jim DeMare as Co-Presidents and the elevation of Alastair Borthwick to Executive Vice President and Chief Financial Officer (CFO).

Moynihan emphasized that these changes are designed to propel the company towards increased growth and return on investment, while also ensuring services meet the evolving needs of clients across all segments. Athanasia and DeMare will oversee the bank's eight lines of business, which will remain intact in terms of leadership, ensuring continuity while also focusing on innovation and market expansion.

Leadership Profiles

Dean Athanasia

Athanasia has been a key player at Bank of America, recognized for his role in driving significant growth in customer accounts. Over the past 15 years, he has worked strategically to enhance client engagement and operational efficiency, resulting in 26 consecutive quarters of net checking account growth.

Jim DeMare

Jim DeMare, with a rich history of leadership in sales and trading, has not only achieved remarkable returns for the bank but has also spearheaded efforts that led to record-breaking sales growth over 13 consecutive quarters. His strategies have positioned Bank of America as a leader in the financial market, receiving acclaims from industry veterans.

Alastair Borthwick

Borthwick has been the CFO for four years, guiding the bank through various financial modifications and expansions. His strategic oversight has strengthened the bank's balance sheet and improved capital allocation, vital for long-term growth initiatives. As he steps into this enhanced role, Borthwick will continue to advise the management team and board, ensuring financial stability as the organization scales.

Strategic Focus

With the new appointments, Bank of America's leadership team aims to implement enterprise-wide initiatives focused on enhancing market share, adapting to technological advancements like AI, and maintaining Responsible Growth principles. This strategy encompasses plans for expansion in both local and global markets, cost management, and operational excellence.

The restructured leadership emphasizes teamwork that connects each segment of the bank—from consumer banking to global markets—ensuring that all efforts are synchronized and targeted towards improving the client experience.

Statement from Brian Moynihan

Moynihan reinforced the bank’s commitment to responsible growth by stating, "These leadership appointments will drive our efforts to build and deliver Bank of America's capabilities across the globe. With Dean and Jim joining me as Co-Presidents, alongside Alastair as our CFO, we will continue to meet the demands of our clients while strategically positioning ourselves for future success."

The newly formed leadership squad represents nearly 60 years of combined experience in the financial services sector, demonstrating a robust understanding of market dynamics and customer expectations. This seasoned team is expected to leverage their expertise to navigate challenges and seize opportunities in an evolving financial landscape.

The Path Ahead

As Bank of America steps into this new leadership era, the focus will remain on embodying the principles of Responsible Growth while enhancing its capabilities worldwide. The outcome of these leadership changes will be pivotal in shaping the strategies that ensure the bank continues leading the industry in customer satisfaction, market share, and long-term profitability. With a committed workforce of over 213,000 employees, the vision for the future appears promising.

In conclusion, these leadership alterations are not just changes in personnel; they signify a strategic pivot towards a future defined by inclusivity, innovation, and sustainable growth. As the organization looks toward the second decade of Responsible Growth, it upholds a commitment to serve its vast clientele with the utmost diligence and efficiency.