BofA Names Global Wealth & Retirement Solutions Leadership Team
Crain will lead GWRS efforts in the institutional market, focused on 401(k), equity compensation, defined benefit, and non-qualified deferred compensation programs, as well as institutional investment consulting business.
Steve Ulian will report to Crain in a new role leading the company’s Large Market Client team, while Joe Mrozek will report to Crain heading the Middle Market Client team. Rick Irace will join IRBS from Technology & Operations and assume Ulian’s current role leading the IRBS product platform. Finally, Tom McAuliffe will continue to lead the Institutional Consulting Group (ICG), now reporting to Crain.
Other appointments include:
Lorna Sabbia will head the Managed Solutions Group (MSG). Gene Mulligan will remain a senior member of the MSG team, reporting to Sabbia. In addition, the Global Funds team, led by Pete Thatch, will now report to Sabbia, as will the investment partner relationship management team, headed by John Pavese.
Lisa Shalett will head an expanded Investment Management & Guidance (IMG) group, with Rick Galiardo and the Portfolio Strategies Desk (PSD) joining the IMG team reporting to Shalett.
In the core investment product areas, Jay Hanlon will continue to head the Capital Markets group, and Liam O’Neil will continue to head the Market Linked Investments group. In addition, O’Neil will serve as the Global Banking & Markets (GBAM) relationship manager for the GWRS organization.
Rich Linton will continue to lead GWRS efforts in the small-business market as head of Business Retirement Solutions (BRS). He will continue to drive the Advisor Alliance 401(k) program, as well as other small business retirement products, such as SEP & Simple programs. In addition, he will work closely with the Consumer Bank and the Business Bank to broaden the wealth advisory capabilities delivered to small businesses. Tom Joseph will join the BRS team, reporting to Linton.
David Tyrie will now head Personal Wealth & Retirement (PWR), a new group that brings together the Client Solutions Group (CSG) and Personal Retirement Solutions (PRS) teams. This new group will include Bank of America’s Insurance & Annuities, IRA, and 529 product areas, as well as the CSG specialists.
Justin Ferri will head Alternative Investments (AI) and Select Client Solutions. In this expanded role, Ferri will continue to lead AI efforts and will focus on the integrated delivery of products and capabilities from across GWRS to the ultra-high-net-worth (UHNW) market. Among his early priorities, Ferri will partner with Liam O'Neil and Raphael Zagury to drive an accelerated build of the platform, processes and infrastructure supporting BofA’s "Ultra Desk" strategy to deliver highly sophisticated trading strategies to UHNW clients.
Mark Curtis will continue to lead International Investment Solutions. In this role, Curtis will continue to ensure the ongoing delivery of Bank of America’s global investment product platform to clients and advisers across the international regions.
Keith Glenfield will serve as the Chief Operating Officer for GWRS, reporting to John Hogarty.
Barry Lindenbaum will continue to lead Technology & Operations for the Retirement business, working closely with Institutional Clients. Bill Bridy will continue to lead Operations for Investment Solutions.