Sign in Subscribe
Bank of America Corp.

Bank of America Announces Senior Leadership Appointments to Drive Growth and Responsible Growth

Strategic Insights

— 2 min read

Bank of America today announced key senior leadership appointments to drive its capabilities around the globe for clients, shareholders, and local communities. Chair and CEO Brian Moynihan has named Dean Athanasia and Jim DeMare to serve as Co-Presidents of Bank of America, and appointed Alastair Borthwick to serve as Executive Vice President and Chief Financial Officer (CFO) of the company.

Moynihan stated that these leadership appointments will drive broad-ranging, strategic efforts focused on increasing market share and returns, leveraging the company's scale, and managing cost and expense. Athanasia and DeMare will assume overall responsibility for the company's business lines, and the individual business heads will report to them.

Key Takeaways:

  • Dean Athanasia and Jim DeMare have been appointed Co-Presidents of Bank of America, effective immediately, to drive broad-ranging, strategic efforts focused on increasing market share and returns.
  • Alastair Borthwick has been appointed Executive Vice President and CFO of Bank of America, bringing his expertise in financial stewardship and broad leadership to the role.
  • The company's Management Team, including Athanasia, DeMare, Borthwick, and other leaders, remains unchanged, with Moynihan's leadership and focus on Responsible Growth continuing unchanged.
  • Athanasia and DeMare have nearly 60 years of experience in financial services across every client segment, market, function, and industry, with a proven track record of designing and driving out full transformations of businesses under their direct leadership.
  • Under Athanasia's leadership, the company has reported 26 consecutive quarters of net checking account growth, deposits up roughly 32% from 2019 through last quarter, and record levels of digital adoption across consumer and wealth management.
  • Under DeMare's leadership, the company's sales and trading teams have posted 13 consecutive quarters of year-over-year growth, delivering net income and returns during that period.
  • Borthwick has expertly served as CFO for the last four years, strengthening every major aspect of the company's balance sheet and driving strategic capital deployments.
  • The company has committed to Responsible Growth, and these leadership appointments will further drive this strategy, with a focus on serving clients, shareholders, and local communities.

Statistics:

  • Bank of America serves 69 million consumer and small business clients with over 3,700 retail financial centers, more than 15,000 ATMs, and award-winning digital banking with 59 million verified digital users.
  • The company offers a range of financial products and services to 4 million small business households through its online platform.
  • Bank of America serves clients through operations across the United States, its territories, and more than 35 countries.
  • The company has a global leadership position in wealth management, corporate and investment banking, and trading across a broad range of asset classes.

Sources:

  • Bank of America Corporation press release dated September 12, 2025, attached as Exhibit 99.1.
  • Securities and Exchange Commission (SEC) filings, including the Bank of America Annual Report on Form 10-K for the year ended December 31, 2024, under Item 1A. "Risk Factors".
  • Various news articles and financial publications reporting on Bank of America's senior leadership appointments and strategic initiatives.

Read more