Bank of America (BAC) announced senior leadership changes including the appointment of new chief financial officer, effective in the fourth quarter. The company is adding five new members, including three women, to the senior management team.
Bank of America named Alastair Borthwick as chief financial officer. He will also continue as a vice chair of Global Diversity & Inclusion Council. Current CFO Paul Donofrio will become vice chair, and will oversee Sustainable Finance and chair Sustainable Markets Committee.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.