Bank of America's Two Executives to Retire by the End of 2021

Bank of America(BofA), the second largest banking institution in the US and the eighth largest bank in the world, has announced the retirement of two executives, namely Anne Finucane, Vice Chairman, and Thomas Montag, Chief Operating Officer and president of Global Banking and Markets.

In addition, these two executives are members of the bank's executive management team and they will remain in their roles until the end of 2021.

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Anne joined Bank of America in 2005, and she is responsible for the strategic positioning of Bank of America and leads the company’s environmental, social and governance (ESG), sustainable finance, capital deployment and public policy efforts.

Following her retirement, Anne will transition to a non-executive chairman role at Bank of America Europe and will move to a non-executive board member role on BofA Securities Europe. Also, she will become a member of the company's Global Advisory Council.

Thomas joined Bank of America in 2008, and he is responsible for all of the businesses that serve companies and institutional investors; including middle-market commercial and large corporate clients, and institutional investor clients, including BofA Global Research and the global markets sales and trading businesses.

Following his retirement, Montag will become a member of the company's Global Advisory Council.