Bank of America announced on 12 September 2025 that it has named Dean Athanasia and Jim DeMare as Co-Presidents of the institution, creating a dual-leadership structure at the executive level immediately below Chief Executive Officer Brian Moynihan. The two Co-Presidents will jointly oversee all eight of Bank of America's lines of business, spanning consumer banking, wealth management, global banking, global markets, and associated units. The announcement simultaneously confirmed that Alastair Borthwick has been appointed Executive Vice President and Chief Financial Officer.
CO-PRESIDENTS TO OVERSEE ALL EIGHT BUSINESS LINES
Athanasia has a background in Bank of America's consumer and small business banking businesses.
DeMare brings a markets and institutional background, having led Global Markets operations at the bank.
Borthwick was named Executive Vice President alongside his retention as Chief Financial Officer; the bank noted that he had taken on additional responsibilities over time as a strategic advisor and as the leader of the company's positioning with its global investor base.
ANNOUNCEMENT DETAILS
Bank of America confirmed the appointments in a press release distributed through its newsroom and published via newswire services. The bank did not provide a specific timeline for any further changes to the leadership structure, and Moynihan remains CEO. All eight lines of business will report through the Co-Presidents to the Chief Executive Officer under the new structure.
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