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BofA’s Montag, Finucane to Retire, Clearing Path for New Leaders

Aug. 26, 2021, 7:46 PM

Bank of America Corp. Chief Operating Officer Thomas Montag and Vice Chairman Anne Finucane-- executives who helped orchestrate the second-largest U.S. bank’s resurrection after the 2008 financial crisis -- plan to retire, clearing the way for a new generation of senior leaders.

Thomas Montag
Source: Bank of America/Business Wire

Montag, who long led the firm’s massive investment banking operations, and Finucane, who oversaw strategy and initiatives including a push into sustainable finance and investing, will vacate their posts at the end of the year, the company said Thursday. It promised to pick replacements in coming weeks.

Despite their posts near the top, Montag, 64, and ...