Bank of America Announces Premier Banking & Investments Leadership Team
Regional Executives Named to Oversee Combined Offering to Affluent Clients
November 21, 2005, BOSTON – Bank of America Premier Banking & Investments President Pat Phillips today announced the creation of a new management team structure for PB&I that will broaden and deepen his leadership team’s focus on delivering integrated banking and investment services to affluent clients across the company’s footprint. As part of this move, five PB&I division executives, each leading a geographic area that includes regional banking and investment teams, have been appointed.
PB&I seeks to deliver comprehensive and customized financial services to affluent clients across the United States through the company’s Premier Banking and Banc of America Investment Services, Inc. (BAI) organizations, which are part of Bank of America’s Global Wealth & Investment Management division. Clients who qualify for PB&I are typically assigned a Premier Banking client manager and BAI financial advisor who work in tandem to serve their clients’ financial needs.
“Bank of America is intensifying its focus on delivering coordinated banking and investment services to affluent clients through a combined, integrated Premier Banking and BAI management structure at multiple levels in our organization,” said Phillips. “Our organization is more closely aligning the leadership of our regional banking and brokerage service teams to showcase and deliver a combined offering to affluent clients across the United States.”
The new division executives will seek to deepen existing relationships and acquire new clients, build partnerships across the larger Bank of America organization and oversee the integrated sales management process. The five new division executives are: Mark Benson, Central Division; Kim Burdick, Southwest Division; Matt Howard, Northwest Division; Susan Walker, Atlantic South Division; Keith Winn, Northeast Division.
Phillips also announced Tim Maloney, president of Banc of America Investment Services, Inc. (BAI) will also serve as head of Sales for PB&I, a newly created role designed to drive consistently strong sales process across the nation.
“In PB&I, we have a very unique opportunity to provide clients with access to unparalleled banking capabilities and convenience, alongside expert investment advisors located in virtually all major markets,” Phillips explained. “Our newly combined leadership team is highly committed to moving forward as a closely aligned client service organization dedicated to serving clients in a holistic but coordinated fashion.”
Premier Banking & Investments (PB&I) delivers personal attention, trusted advice and guidance, plus custom-tailored banking, credit, investment and day-to-day transaction services to affluent clients with up to $3 million in investable assets through its integrated team of experienced client managers and financial advisors. PB&I, a partnership between Bank of America Premier Banking and Banc of America Investment Services, Inc. (BAI), works with clients coast-to-coast, through more than 75 dedicated Premier Banking and Investments Wealth Centers, supported by 5,800 banking centers and nearly 17,000 ATMs nationwide. Premier Banking helps clients build and preserve wealth by delivering proactive planning and personalized solutions through more than 2,000 associates. BAI serves clients through a team of nearly 2,000 financial advisors located in 34 states, providing full-service and online, self-directed brokerage services, featuring asset allocation tools and non-FDIC-insured investment products, including stocks, bonds, fixed-income securities, mutual funds and separately managed accounts.
Bank of America is one of the world’s largest financial institutions, serving individual consumers, small and 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 more than 38 million consumer and small business relationships with more than 5,800 retail banking offices, more than 16,700 ATMs and award-winning online banking with more than 14 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 150 countries and has relationships with 97 percent of the U.S. Fortune 500 companies and 79 percent of the Global Fortune 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
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