8-KLeadership Changes

BANK OF AMERICA CORP /DE/ 8-K Report, Executive Changes (Sep 15, 2025)

Filed September 15, 2025For Securities:BACBAC-PBBAC-PKBAC-PLBAC-PMBAC-PNBAC-PSBML-PJBAC-PEBAC-PPBAC-PQBACRPBML-PGBML-PHBML-PLBAC-POMER-PK

Summary

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.

Key Highlights

  • 1Dean C. Athanasia appointed Co-President, Regional Banking.
  • 2James P. DeMare appointed Co-President, Global Markets.
  • 3Alastair M. Borthwick appointed Executive Vice President, retaining CFO role.
  • 4Appointments are effective immediately as of September 12, 2025.
  • 5Mr. Athanasia has extensive experience in retail, small business, and regional banking.
  • 6Mr. DeMare brings deep expertise in global markets and trading.
  • 7Mr. Borthwick's expanded role signifies continued trust in his financial leadership.

Frequently Asked Questions

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.

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.

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.

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.