Bank of America announced senior leadership appointments to further build and deliver 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. Athanasia and DeMare will drive company-wide initiatives focused on long-term growth and returns and oversee Bank of America’s eight lines of business and their leaders, who remain unchanged. Borthwick has served as the company’s CFO for the past four years, and assumed additional responsibilities over time, as a strategic advisor and the leader of the company’s positioning with its global investor base. The company’s Management Team, under Moynihan’s leadership and including Athanasia, DeMare, Borthwick and their colleagues, remains otherwise unchanged.

“These leadership appointments will drive our efforts to build and deliver Bank of America’s capabilities across the globe,” said Chair and CEO Moynihan. “Over the last 15 years, Dean and Jim have each served as leaders, strategists and stewards of growth. Together, they have nearly 60 years of experience in financial services across every client segment, market, function and industry. They have designed and driven out full transformations of the businesses under their direct leadership to focus on our clients and their needs; align resources, capabilities and intensity; compete and gain market share; and deliver long-term, industry-leading results. After several, steadily expanding leadership roles running business lines, Alastair has expertly served as our CFO for the last four years. His financial stewardship and broad leadership have been instrumental to our progress, as we have strengthened every major aspect of our balance sheet. Bank of America set on a course of Responsible Growth more than a decade ago. With the support of our Board of Directors, I look forward to working with our leaders and 213,000 teammates as together we drive Responsible Growth through its second decade.”

In a letter to employees, Moynihan said, "With this move, we will further build and deliver our capabilities across the globe. My focus as Chair and CEO of the company remains the same. Our Management Team remains the same, including the business heads who continue to lead and drive their individual areas. In their new appointments, Dean and Jim will significantly increase the capacity, intensity, and expertise dedicated to our highest priorities, benefiting all."