CHARLOTTE, N.C.--(BUSINESS WIRE)--Apr. 24, 2014--
Bank of America Corporation today announced that Chief Risk Officer
Terry Laughlin is moving to a new role as president, Strategic
Initiatives. Geoffrey Greener, Enterprise Capital Management executive,
will become chief risk officer.
“These changes mark the next phase of work to simplify our company,
manage risk, and improve our efficiency and operational excellence,”
said Chief Executive Officer Brian Moynihan. “We continually sharpen our
focus on helping our customers and clients live their financial lives
and on delivering value to our investors.”
Laughlin’s responsibilities will include Corporate Strategy and
Enterprise Client Coverage, the company’s program to serve customers and
clients with integrated business capabilities in each market and
community. Laughlin will continue to report to Moynihan and remain a
member of the company’s senior management team.
Laughlin also will oversee the internal companywide initiative known as
Simplify and Improve, to identify opportunities to reduce complexity,
simplify work flow, and invest in the company’s operating platform.
This builds on Project New BAC, a multi-phase, companywide initiative
that began in 2011 to align businesses and costs with the company’s
strategy and operating principles and increase revenues.
Also reporting to Laughlin are Legacy Assets and Servicing and U.K. Card
As chief risk officer, Greener joins the senior management team.
Bank of America
Bank of America is one of the world's largest
financial institutions, serving individual consumers, small businesses,
middle-market businesses and large corporations with a full range of
banking, investing, asset management and other financial and risk
management products and services. The company provides unmatched
convenience in the United States, serving approximately 49 million
consumer and small business relationships with approximately 5,100
retail banking offices and approximately 16,200 ATMs and award-winning
online banking with 30 million active users and more than 15 million
mobile users. Bank of America is among the world's leading wealth
management companies and is a global leader in corporate and investment
banking and trading across a broad range of asset classes, serving
corporations, governments, institutions and individuals around the
world. Bank of America offers industry-leading support to approximately
3 million small business owners through a suite of innovative,
easy-to-use online products and services. The company serves clients
through operations in more than 40 countries. Bank of America
Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
Visit the Bank of America newsroom for more Bank
of America news.
Source: Bank of America Corporation
Investors May Contact:
Lee McEntire, Bank of America, 1.980.388.6780
Blum, Bank of America (Fixed Income), 1.212.449.3112
Larry Di Rita, Bank of America, 1.704.941.1460