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Two top execs at Bank of America to retire at year’s end

Bank of America Corp Vice Chairman Anne Finucane and Chief Operating Officer Thomas Montag will retire from their positions, the financial institution mentioned in an announcement on Thursday.

Both Finucane and Montag will stay of their roles till the end of the year, BofA mentioned, with succession plans set to be introduced within the coming weeks.

Finucane joined Fleet Bank, which merged with Bank of America in 2004, 26 years in the past. She at present handles BofA’s strategic positioning, sustainable finance and public coverage efforts, amongst different obligations.

She was additionally the financial institution’s chief advertising officer for 10 years.

Following retirement, Finucane will assume the function of non-executive chairman at Bank of America Europe and transition to a non-executive board member function on BofA Securities Europe.

Montag, who can be retiring as president of Global Banking and Markets at BofA, was liable for all business related to firms and institutional buyers at the financial institution as well as to his obligations as COO.

Both Finucane and Montag will stay of their roles at Bank of America till the end of the year.
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He had joined as government vice chairman and head of international gross sales and buying and selling at Merrill Lynch in 2008, prior to its merger with BofA.

Before that, Montag was with Goldman Sachs for 22 years

Both Finucane and Montag will turn into members of the financial institution’s Global Advisory Council after retiring.