01—Abstract
Summary
Summary of the 8-K filed September 15, 2025. Cited figures are marked; the original filing is the authoritative source.
Bank of America Corporation (BAC) has announced significant executive leadership changes effective immediately as of September 12, 2025.
The company has appointed Dean C. Athanasia, currently President of Regional Banking, and James P. DeMare, President of Global Markets, to serve as Co-Presidents of the Corporation.
This move elevates two key leaders to a more prominent, unified leadership role, suggesting a potential strategic shift towards integrated management across major business segments. Additionally, Alastair M. Borthwick, who has been serving as the Chief Financial Officer since November 2021, has been appointed as Executive Vice President while retaining his CFO responsibilities.
These appointments reflect the company's ongoing efforts to strengthen its senior management team and ensure continuity and strategic direction at the highest levels. Investors should monitor how this new co-presidency structure impacts operational efficiency and future strategic decisions.
02—Key points
Key Highlights
- Dean C. Athanasia appointed Co-President, Regional Banking.
- James P. DeMare appointed Co-President, Global Markets.
- Alastair M. Borthwick appointed Executive Vice President, retaining CFO role.
- Appointments are effective immediately as of September 12, 2025.
- Mr. Athanasia has extensive experience in retail, small business, and regional banking.
- Mr. DeMare brings deep expertise in global markets and trading.
- Mr. Borthwick's expanded role signifies continued trust in his financial leadership.
03—Questions
Frequently Asked Questions
What are the main leadership changes at Bank of America?
Bank of America has appointed Dean C. Athanasia and James P. DeMare as Co-Presidents of the Corporation. Additionally, Alastair M. Borthwick has been named Executive Vice President while continuing as Chief Financial Officer.
What is the significance of the Co-President roles?
The appointment of Co-Presidents suggests a move towards a more unified leadership structure, potentially allowing for greater collaboration and strategic alignment across key business divisions like Regional Banking and Global Markets. This could streamline decision-making and execution.
What is the background of the newly appointed Co-Presidents?
Dean C. Athanasia has a strong background in consumer and regional banking, having held various leadership roles in these areas since 2011. James P. DeMare has extensive experience in global markets, including trading and commercial real estate banking since 2015.
Will Alastair M. Borthwick's responsibilities change as CFO?
No, Alastair M. Borthwick will retain his role as Chief Financial Officer while also taking on the title of Executive Vice President. This indicates continued confidence in his financial oversight and management capabilities.
04—Continue