Bank Of America Chief Investment Officer


Investing With Ubs Global Wealth Management

The Villanova Finance Group Hosts Chris Hyzy, Chief Investment Officer, Bank of America

Everything we do is geared towards helping you reach your financial goals. Established in 2011, the Chief Investment Office has been a key part of UBS GWMs aim to bring institutional quality advice to our private wealth clients. We identify and communicate investment opportunities, as well as market risks to support you in preserving and growing your wealth.

Were There Any Special Elements Of Your Experience That Prepared You For This Role

I dont think I could have enjoyed such a diverse and interesting experience at other firms. Morgan Stanley provides the responsibility and support necessary to grow as an individual. As a result, I have been able to evolve my skill set. I learned how to be a trader in a short period of time, and Ive become a pretty good public speaker without any formal training. There truly is no better teacher in the world than hands-on experience. Morgan Stanley is willing to take risks with its talent and provide these new experiences. I think that is a very unique trait of Morgan Stanley that helps the firm, and the individuals within it, thrive.

Alastair Borthwickchief Financial Officer

Alastair Borthwick is the chief financial officer for Bank of America, and is a member of the companyâs executive management team.

In this role, Borthwick is responsible for the overall financial management of the company, including accounting, balance sheet management, financial planning and analysis, corporate treasury, investor relations, corporate investments and tax.

He is also one of the vice chairs for the companyâs Global Diversity & Inclusion Council.

Borthwick most recently served as president of Global Commercial Banking for Bank of America, a position he assumed in 2012. He led the Commercial Bank, one of the firmâs eight lines of business, which delivers integrated banking solutions to clients across Middle Market Banking Real Estate Healthcare, Education and Not for Profit and Dealer Financial Services.

Previously, Borthwick was a managing director and co-head of Global Capital Markets. In that role, he had responsibility for Equity Capital Markets, Investment Grade Debt Capital Markets, Leveraged Finance, and Global Origination for Rates & Currencies. Borthwick has also served as head of Global Investment Grade Debt Capital Markets. Borthwick joined the company in 2005, and spent the prior 12 years at Goldman Sachs.

Investing in securities involves risks, and there is always the potential of losing money when you invest in securities.

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Tom Scrivenerchief Operations Executive

Tom Scrivener is Chief Operations Executive for Bank of America and is a member of the companyâs executive management team.

In this role, Scrivener is responsible for delivering integrated operations solutions for all lines of business, staff support areas and the broader enterprise, including operations teams in our global regions. He will also continue to oversee the bankâs Paycheck Protection Program Forgiveness program.

Scrivener most recently served as head of Operations for Bank of Americaâs Consumer, Small Business & Wealth Management businesses, leading more than 15,000 employees and contractors who deliver integrated operations solutions to clients across Consumer, Small Business, Merrill Wealth Management, Private Bank and Retirement Solutions. He also had responsibility for teams providing cash and transportation services, card issuance and mortgage and vehicle servicing.

Previously, Scrivener managed Enterprise Initiative Planning & Execution and Global Real Estate Services. His initiative planning responsibilities included oversight of the companyâs capital and financial scenario planning processes and other analyses of regulatory requirements. Scrivener launched the companyâs approach to Operational Excellence and led its Comprehensive Capital Analysis and Review effort. Earlier, Scrivener was chief financial officer for Legacy Asset Servicing.

Under The Leadership Of Brian Moynihan Bank Of America Has Become The Poster Child For Stakeholder Capitalism In Banking Shareholders Benefit Previous Strong Underwriting And Ample Liquidity Enabled It To Grow Loans Strongly In The Pandemic Recovery And Management Is Confident It Can Weather The Coming Downturn

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As soaring US inflation persists, bank investors nerves are on edge. They hope to benefit from higher net interest income while keeping a fearful eye on future non-performing loans and on rising costs particularly headcount.

This is being felt from the top of these firms to the bottom: investors are rejecting board proposals for multi-million dollar retention grants to chief executives while remaining laser focused on costs elsewhere.

It is a moment where bank chairmen and chief executives need to show unequivocally where their priorities lie. Bank of Americas Brian Moynihan did just this in April when the bank announced off-cycle pay rises of between 3% and 7%, depending on length of service, to employees earning less than $100,000.

We are meeting our teammates where their reality is, he tells Euromoney.

The bank also brought forward the increase, scheduled for October, of its lowest hourly wage to $22. It has said this minimum wage will hit $25 by 2025. Those increases came into effect in June. The bank is ahead of the industry on this.

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How Much Does A Chief Financial Officer Make At Bank Of America In Los Angeles

Average Bank of America Chief Financial Officer yearly pay in Los Angeles is approximately $56,925, which is 57% below the national average.

Please note that all salary figures are approximations based upon third party submissions to Indeed. These figures are given to the Indeed users for the purpose of generalized comparison only. Minimum wage may differ by jurisdiction and you should consult the employer for actual salary figures.

Gwim Chief Investment Office Analyst Program

Job Description & Program Overview

Global Wealth and Investment Management provides comprehensive wealth management to affluent and high-net-worth clients. It also provides retirement and benefit plan services, philanthropic management and asset management to individuals and institutions.

The GWIM Chief Investment Office coordinates the investment strategy across GWIM, harmonizing market themes, identifying trends and supporting our client-focused investing approach. Our Global Wealth and Investment Management Analyst Program is designed to offer candidates the opportunity to work in various positions within our GWIM Chief Investment Office.

As an analyst, your key tasks and responsibilities may include but are not limited to:

  • Research various topics
  • Summarize analysis in brief write-ups
  • Focus on global macro and policy issues
  • Follow financial market themes on a daily basis
  • Maintain department industry research and report information


Bank of America is unable to consider candidates that will require visa sponsorship now, or in the future, for this specific role.

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Meeting America In The Middle

When Euromoney catches up with Wendy Stewart, president of global commercial banking at Bank of America, she has been travelling almost non-stop ever since being promoted to the position in September 2021. She heads the banks renowned middle-market business that serves public and private companies with annual revenues of anywhere from $50 million to over $2 billion.

The business operates in 113 cities across the US, more than any other bank, as well as in 15 other countries, mostly serving the international subsidiaries of these US borrowers.

We are operating from a position of strength and growing ahead of the market, says Stewart. Commercial banking typically grows in line with GDP at a recent annualized average of 3% in the US. But we have been growing at 5.5%, doing more business with existing clients and attracting many new ones.

Partly that reflects the sheer number of bankers BofA has hired in recent years, knowing that its great rival JPMorgan is targeting the exact same opportunity to capture more mid-size firms in markets beyond the largest cities and ride the growth of some of them into large-scale corporations.

It also competes with local and regional banks now going through a new consolidation wave, which might leave some of them distracted and focused internally on systems integration.

Professional development

That is a differentiator for us, she says.

Then there are mid-career people who come to BofA from other industries.

Net zero

How Much Does A Chief Financial Officer Make At Bank Of America In Baltimore

Why Bank of America Private Bank’s CIO expects ‘robust economic recovery’

Average Bank of America Chief Financial Officer yearly pay in Baltimore is approximately $36,821, which is 72% below the national average.

Please note that all salary figures are approximations based upon third party submissions to Indeed. These figures are given to the Indeed users for the purpose of generalized comparison only. Minimum wage may differ by jurisdiction and you should consult the employer for actual salary figures.

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Chief Risk Officer And Deputy Ceo

Ulrik Lackschewitz is Chief Risk Officer at Hamburg Commercial Bank AG. Lackschewitz, born on 11 July 1968 in Bro , is CRO since 1 October 2015 and deputy CEO since 10 December 2018 at the former HSH Nordbank AG.

Before moving to HSH Nordbank, Ulrik Lackschewitz was Group Head of Financial and Risk Control at Nord/LB and reported directly to the Management Board. Prior to this, he worked as Chief Operating Officer at Macquarie Securities Group . Past positions include Head of Risk Management at Sal. Oppenheim jr. & Cie and BFG Bank as well as at Citibank .

Ulrik Lackschewitz completed his degree at the University of Uppsala with a Masters of Science in Business Studies and Economics . He is married.

Early Life And Education

Moynihan held numerous banking positions before becoming president of consumer and small business banking at Bank of America in January 2009.

He joined Fleet Boston bank in April 1993 as a deputy general counsel. From 1999 to April 2004, he served as executive vice president, managing Fleet’s brokerage and wealth management division. After Bank of America merged with FleetBoston Financial in 2004, he joined BoA as president of global wealth and investment management. He was named CEO of Merrill Lynch after its sale to BoA in September 2008, and became the CEO of Bank of America after Ken Lewis stepped down in 2010.

On August 25, 2011, CNBC’s Drew Sandholm noted that “espite having recently told investors Bank of America … doesn’t need to raise capital, CEO Brian Moynihan will accept $5 billion in capital from famed investor Warren Buffett. The deal not only surprised the Fast Money traders on Thursday, it also caused them to question Moynihan’s credibility.”

On September 12, 2011, CNBC‘s John Carney noted that Moynihan had “once again laid out his company’s plan to meet regulatory capital requirements and denied that the bank will have to issue new stock to raise capital … says that Warren Buffett‘s $5 billion counts as Tier 1 Capital. But the markets have largely ignored the investment, most likely because it looks a lot more like debt than capital.”

In July 2020, Moynihan was named Chief Executive Magazineâs 2020 CEO Of The Year.

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How Have You Progressed And Evolved Through Your Time At Morgan Stanley

Coming to New York from the Midwest to work at Morgan Stanley was a massive change for me culturally. However, I moved a lot as a child and so change was very normal for me growing up. In fact, it seems ironic that I am still here 25 years later. I have stayed so long because the firm has allowed meeven asked meto do many different things during my career. Ive been an investment banker, a salesman, a trader, a strategist and a product manager. In many ways, Ive had six or seven very different careers while remaining at the same firm.

The Drive To Digitalize


Following management changes last year that saw Tom Montag, former chief operating officer and head of global banking and markets, retire, as well as former vice-chair Anne Finucane, four of Bank of Americas eight business lines now report to Dean Athanasia. Having long headed regional banking including retail banking, he now also oversees small-business banking and global commercial banking.

It has been quite a journey.

We have been on several journeys, Athanasia tells Euromoney, first to make our company easy for clients to use by simplifying products and processes, then next to digitalize everything, with the aim of being the best consumer bank and the best digital bank.

And is it?

He offers a string of numbers. Fully 53% of sales to clients are digital, 75% of clients are paperless and 85% of service to clients is digitized. The bank has $1.4 trillion of retail deposits, more than any of its US rivals, and for 92% of those retail clients, BofA is their prime bank.

It operates in more markets around the US than any rival. In the largest 30 markets in the US, BofA has the top market share in 16 of them, which is more than twice the nearest competitor. In many of the new markets the bank recently entered, it has broken into the top seven in market share in just a few years.

It is classic stakeholder capitalism applied to customers.

100% digital

Erica is getting smarter, says Athanasia. Clients can find 95% of the information they need through Erica.

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Chief Financial Officer Global Financial Control Senior Project Manager

Bank of America commitment to Diversity and Inclusion statement:

Were a culture that:- Believes in responsible growth and has a proven dedication to supporting the communities we serve.- Provides continuous training and developmental opportunities to help people achieve their goals, whatever their background or experience.- Believes diversity makes us stronger, so we can reflect, connect to and meet the diverse needs of our clients and customers around the world.- Is committed to advancing our tools, technology and ways of working. We always put our clients first to meet their evolving needs

Group Description:

The Chief Financial Officer Group is responsible for the overall financial management of our company. This includes accounting, financial and regulatory reporting, balance sheet management, financial planning and analysis, treasury, investor relations, corporate investments and tax

Global Financial Control is responsible for managing and executing consolidated financial and legal entity reporting interpreting and applying accounting policy and standards overseeing financial controls and operational risk assessments managing and maintaining financial data and systems managing general ledger and subledger accounting and supporting tax activities. In short, our focus in GFC is to get the numbers right and to work in support of the companys goals, most importantly responsible growth.

Job Description:

Required Skills

Desired Skills

Job Band:

Group Description:

What Do You Consider Among Your Greatest Accomplishments

I am very proud of the number of young people I have developed over the years. Taking the time to mentor young professionals can make them more productive, but more importantly, you can change their careers and their lives.

Along those lines, Ive always taken the time to explain everything to those who work alongside me. They deserve an explanation for why they are working on assignments and/or projects. It gives them a greater appreciation for their hard work if they understand the impact it might have on the clients we are trying to serve. Morgan Stanley benefits directly from great young talent. We even benefit from talent that leaves the firm because many of them become very successful clients. When I cross paths with these former colleagues, its always very rewarding personally.

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Merrill’s Andy Sieg To Head Bofa’s Investment Solutions Group

The move comes as financial advisors increasingly turn to model portfolios, alternatives and other investment offerings, Barrons reports.

Bank of America is broadening the responsibilities of its wealth management chiefs, in part by giving them more control over in-house products and services used by financial advisors, according to news reports.

Andy Sieg, president of Merrill Lynch Wealth Management, will now also oversee BofAs Investment Solutions Group which oversees separately managed accounts and alternative investments, among other investment offerings as well as its Personal Retirement Group, Barrons writes.

Meanwhile, Katy Knox, president of the Private Bank, is now also tasked with overseeing BofAs Wealth Management Banking and Lending unit as well as its trust specialists team, according to the publication.

The move comes as financial advisors increasingly turn to model portfolios, alternatives and other investment offerings, Barrons writes. Model portfolios, for example, are popular with advisors because theyre easy to use, have low costs, and are aligned with the overall investment outlook of the firm, Sieg said, according to the publication.

BofAs Chief Investment Office already directly oversees $200 billion worth of model client portfolios, he added, according to Barrons.

Keith Banks vice chairman and head of ISG since 2017 is now chief investment officer for BofAs pension and benefit plan investments, the publication writes.

Bank Of America Announces Senior Leadership Changes

Royal Bank results are spectacular: Chief investment officer

Bank of America today announced senior leadership changes to position the company for long-term success, while continuing to deliver for clients, communities and shareholders.

The company is adding five new members, including three women, to the senior management team, further strengthening diversity at the most senior levels of the company. When all of the changes are complete, Bank of Americaâs senior management team will include individuals with an average of 21 years of service in the company and 31 years in the financial services industry, with increased global and international expertise and more diversity of gender and race than ever before in the companyâs history.

âThese changes position the company with highly energized leaders who are committed to driving Responsible Growth through its second decade â delivering for our clients, communities and shareholders, and addressing major societal issues,â said Chairman and Chief Executive Officer Brian Moynihan. âAs I shared with our Board of Directors, it will continue to be my privilege to serve with them as CEO as we drive Responsible Growth through its second decade.â

Below is the letter that Moynihan shared with the companyâs teammates today.

To my teammates,

Today, we are announcing important steps forward in our management team for the company.

Our Management Team will also include the following leaders in corporate-wide roles. These leaders will report to me unless otherwise noted.


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