Memo from Sallie Krawcheck with the details of her new team

A message from Sallie Krawcheck, president of Global Wealth & Investment Management:
New Global Wealth & Investment Management Leadership Team
Dear Colleagues,
Today, I am pleased to announce the new leadership team for Global Wealth & Investment Management (GWIM). This realigned structure flattens and streamlines our leadership team while ensuring strong partnerships across the organization that will help each business grow.
Working closely together, these leaders will be charged with maintaining the heritage and culture of our organizations while also benefiting from perspectives that will help us build on the culture of teamwork across GWIM.
The following leaders will report to me, effective immediately:
Dean Athanasia has been named the head of the GWIM Banking and Direct Investment Division. He is responsible for the overall strategy and direct management of deposit and credit products – from credit cards to sophisticated lending products – across GWIM. This includes the U.S. Trust Credit & Banking business, which will now report to Athanasia. He is also responsible for the phone and online channels that serve GWIM clients.
Keith Banks and John Thiel will co-lead Private Wealth Management and are charged with bringing the full capabilities of our firm to ultra high net worth clients. In this role, they will work together and across their businesses to leverage our entire platform and build partnerships across the franchise that will drive relationship growth. John will continue to serve as head of Merrill Lynch’s Private Banking and Investments Group. Keith will serve as president of U.S. Trust and lead key strategic initiatives across GWIM. Mike Jones will continue to serve as president of Columbia Management, Bank of America’s asset management organization, reporting to Keith.
Eva Castillo will continue to serve as head of EMEA Wealth Management, with responsibility for financial advisors in Europe, the Middle East and Africa, and continue to serve as part of the Bank’s EMEA leadership team.
Chris Dupuy will continue to lead Global Investment Solutions, responsible for managing GWM’s financial products, including mutual funds, stocks, bonds, new issue, insurance, alternative investments and structured products. Chris will oversee all manager due diligence, portfolio construction and investment implementation activities for the business globally. Chris now will have responsibility for the Americas Distribution Group that previously reported to Lyle LaMothe, and the Alternative Investment Asset Management group, previously led by David Bailin.
John Hogarty is now GWIM Chief Operating Officer and will lead sales planning, support and resource allocation globally and across all client segments, working closely with other GWIM leaders. He will also manage all client-related processes – including standards for relationship reviews, metrics analysis and the launch of sales programs.
Antony Hung will remain head of Asia Pacific Wealth Management and continue to serve as part of the Bank’s Asia Pacific leadership team.
Lyle LaMothe will continue as head of U.S. Wealth Management, leading financial advisors from Merrill Lynch and Banc of America Investment Services, Inc. in the United States.
Brian Sepe will remain head of Latin America & Canada Wealth Management and continue to serve as part of the Bank’s Latin America leadership team.
Andy Sieg has joined Bank of America to lead Retirement & Philanthropic Services (RPS), which provides administration, recordkeeping, custodial, communications, consulting and execution services to businesses, organizations, their employees and members, in connection with approximately 40,000 workplace-based benefit plans. The RPS group will also include the personal retirement functions that previously reported to Dean Athanasia.
Andy most recently served as head of Citigroup’s Emerging Affluent Client Segment, with responsibility for Global Wealth Management’s approach to attracting and serving affluent U.S. households. Prior to joining Citigroup in 2005, he held various leadership roles at Merrill Lynch.
Michael Sullivan will continue as head of the Global Client Coverage Group, responsible for the delivery of a comprehensive referral and client coverage capability to bring the full power of the combined company to clients. Harry Singh now reports to Michael as deputy head, and will continue in his strategic leadership role working across the organization.
The entire GWIM leadership team will continue to work closely with Mark Alexander, head of Global Wealth & Investment Management Technology & Operations. In this role, he will continue to serve as a member of the Global Wealth & Investment Management Executive Committee.
Steve Bodurtha will retire after 23 years of distinguished service and contributions to the firm. During that tenure, Steve has served many important roles, most recently developing a leading retirement platform that we will continue to build on going forward. I thank Steve for his many contributions to the company.
David Bailin is also leaving the company. I want to thank David for his work in building a strong foundation for the company in the increasingly important area of alternative investments.
Please join me in wishing Steve and David well in their future endeavors and congratulating the GWIM leadership team on their roles.
Sincerely,
Sallie

Related Topics: Bank Of America Corp., Merrill Lynch