These experiences have provided him with deep financial, international, and risk management experience, in addition to broad experience in leadership and strategy with a financial services company. If you prefer that we not use this information, you can opt out of online behavioral advertising. Brad Besel is a Senior Vice President at Bank of America based in Charlotte, North Carolina. Mr. de Wecks service as Chief Credit Officer of UBS provides him with further credit risk management experience. Average Senior Vice President Salary $194,770 Yearly $93.64 hourly $125,000 10% $194,000 Median $302,000 90% See More Salary Information What Am I Worth? As a Senior Vice President (SVP) of commercial lending, you oversee the handling of commercial loans. The average salary range for a Vice President Commercial Bank is between $107,953 and $191,865. Member and Chairman of the Supervisory Board of The Clearing House Association L.L.C. Dr. Roses PhD research and studies at the University of Pennsylvania in sociology with a focus on issues of race in America, and leadership of diversity, equity, and inclusion initiatives at JPMorgan Chase, gives him insight into human capital management issues, including diversity, equity, and inclusion. May Lose Value. Why is everyone at a bank a vice president? Executive Vice President and General Counsel. Depending on the bank's location, the work involved,. These changes position the company with highly energized leaders who are committed to driving Responsible Growth through its second decade delivering for our clients, communities and shareholders, and addressing major societal issues, said Chairman and Chief Executive Officer Brian Moynihan. Previously, she was deputy general counsel and Legal executive for more than a decade in several areas of the company including as Corporate Secretary, and earlier was a leader in risk, finance, and corporate strategy. Dr. Roses extensive financial industry board service gives him further insight into key issues facing financial institutions. Merrill Lynch Salary FAQs The average salary for a Senior Vice President is $207,470 per year in United States, which is 102% higher than the average Merrill Lynch salary of $102,650 per year for this job. Today, we are announcing important steps forward in our management team for the company. Below is the letter that Moynihan shared with the companys teammates today. In response, I have asked him to lead the transition in our chief financial officer organization in the fourth quarter, and to become a vice chair for the company. Previously, Tom was head of Consumer, Small Business & Wealth operations. He will also continue to oversee our Paycheck Protection Program (PPP) Forgiveness effort. You can read more about the team on Flagscape, including additional information about their experience in our company and industry, and will hear more information from leaders who are assuming new or expanded roles next week and in the days to follow. We will recognize Davids many contributions to our company and beyond as his transition nears and have shared a special update on Flagscape today. Morgan Stanley progression is: Associate -> VP -> ED -> MD. Mr. Almeidas public company board service includes extensive experience in public company corporate governance, talent development, executive compensation, and succession planning. Further, with her service as Chief Financial Officer at ITT, Furniture Brands International, and the U.S. KFC division of Yum! Thong Nguyen continues as vice chair and head of Global Strategy & Enterprise Platforms including Enterprise Data Management, and will assume additional responsibility for Global Real Estate, Business Continuity, and other related functions. I have asked her to relocate to Paris and assume this enterprise-wide vice chair role providing leadership within and beyond our European presence. Bank of America, N.A. Sheila Redzepi. Wendy Stewart has been appointed president of Global Commercial Banking, reporting to Dean and joining our Management Team. Average Bank of America Senior Vice President yearly pay in the United States is approximately $193,002, which is 10% above the national average. How much does a Senior Vice President make at Bank of America in the United States? How much does a market president at Bank of America make? Average JPMorgan Chase Vice President yearly pay in the United States is approximately $110,528, which is 24% below the national average. Are Not a Condition to Any Banking Service or Activity. How Do Rankings Work at the Different Banks? lee.mcentire@bofa.com, Jessica Oppenheim, Bank of America Average salary $174,399 per year Average $174,399 Low $88,000 High $283,000 Senior Vice President salary in the United States at Bank of America Why is everyone at a bank a vice president? How much does a senior vice president at Merrill Lynch make? Opinions or ideas expressed are not necessarily those of Bank of America nor do they reflect their views or endorsement. Sanaz will transition through the end of the year, working with her team to ensure a seamless handover. Ms. Lozanos roles as the former Chief Executive Officer of College Futures Foundation, a charitable foundation working to increase the rate of college graduation for low-income California students, and as the former Chairman and Chief Executive Officer of ImpreMedia LLC (ImpreMedia), a leading Hispanic news and information company, enable her to bring her broad leadership experience in areas such as operations, marketing, and strategic planning to our Board. Board of Directors Brian T. Moynihan Chair and CEO, Bank of America Corporation View Bio Lionel L. Nowell III Lead Independent Director, Bank of America Corporation; Former SVP and Treasurer, PepsiCo, Inc. View Bio Sharon L. Allen Former Chairman, Deloitte LLP View Bio Jos (Joe) E. Almeida Bank of America is one of the worlds leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. What is assistant vice president? The company serves clients through operations across the United States, its territories and approximately 35 countries. Average JPMorgan Chase Managing Director yearly pay in the United States is approximately $375,735, which is 257% above the national average. From 2012 to 2017, he served as the Judith and John Bedrosian Chair in Governance and the Public Enterprise at the University of Southern California's Sol Price School of Public Policy. jessica.oppenheim@bofa.com, Jerry Dubrowski, Bank of America When you visit these sites, you are agreeing to all of their terms of use, including their privacy and security policies. He and his team will execute this work in partnership with all of our lines of business. He has worked tirelessly in our company for 22 years and in our industry for more than 30 years. Dr. Zubers role as Senior Research Scientist and experiences in leadership roles on nine space exploratory missions with the National Aeronautics and Space Administration (NASA) enable her to bring a breadth of risk management, geopolitical insights, and strategic planning expertise to our Board. He will also continue to serve on our Sustainable Markets Committee playing a critical, business leadership role in those efforts. Vice President, Development Finance. Von E. Hays. A senior vice president is a title which is earned through seniority. The Many Vice Presidents A vice president title often is conferred as a promotion in place, with the recipient retaining ones current job and responsibilities. Neither of these is an easy transition, especially for. Requirements. How much does a VP at Merrill Lynch make? Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Sharon Miller will continue to lead Small Business and take on additional responsibilities to include Specialty and Auto Lending. He has also taught and written extensively about financial services as a faculty member at the Harvard Business School. Phone: 1.646.855.1600 Comerica Incorporated's Senior Leadership Team members appear below. Bank of America Senior Vice Presidents earn $153,000 annually, or $74 per hour, which is 1% lower than the national average for all Senior Vice Presidents at $155,000 annually and 79% higher than the national salary average for all working Americans. When an organization has a CEO and president, the VP is usually third in command. The average salary for Vice President at companies like Bank Of America in the United States is $359,361 as of December 27, 2022, but the range typically falls between $287,064 and $392,859. Comerica Incorporated and Comerica Bank. The average pay for a Vice President Commercial Bank is $154,462 a year and $74 an hour in the United States. This steadfast focus has enabled us to build strength quarter by quarter, year over year to record levels of earnings, market capitalization, client and employee satisfaction, and brand and reputation. His experience heading The Executive Leadership Council and the Juvenile Diabetes Research Foundation International gives him a distinct perspective on governance matters, social responsibility, and diversity. How we help people, companies and institutions realize their financial goals, Chair and CEO, Bank of America Corporation. These statements often use words like expects, anticipates, believes, estimates, targets, intends, plans, predict, goal and other similar expressions or future or conditional verbs such as will, may, might, should, would and could. Forward-looking statements speak only as of the date they are made, and Bank of America undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made. How Many Senior Vice Presidents Does Bank Of America Have. Christine Morris. Are Not Insured by Any Governmental Agency. Actual outcomes and results may differ materially from those expressed in, or implied by, any forward-looking statements due to a variety of factors. David has most recently served as head of Digital Banking. Vice Chair, Head of Enterprise Credit. Vice president. Hierarchy. Lakshmi Shyam-Sunder. An executive vice president is higher ranking than a senior VP, and generally has executive decision-making powers. After more than six years in his current role, Paul has expressed his desire to contribute to our organization in new ways going forward, in line with his priorities for the next phase of his career. As I shared with our Board of Directors, it will continue to be my privilege to serve as CEO with them and with you. Lead Independent Director, Bank of America Corporation; Former SVP and Treasurer, PepsiCo, Inc. Mr. Nowells role as former Treasurer of PepsiCo, Inc. (Pepsi) enables him to bring his strong financial expertise and extensive global perspective in risk management and strategic planning to our Board. These materials are for informational purposes only. She joined the bank in 2001, having previously been a partner and member of the executive committee of a major law firm. Holly has most recently been chief client care executive & head of Consumer Client Services, including oversight of all client contact centers in the company. Visit Website. Average Bank of America Director yearly pay in the United States is approximately $158,632, which is 80% above the national average. He joined the company in 1995. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation, offer or solicitation for the purchase or sale of any security, financial instrument, or strategy. Some companies also use the term B-level executive to describe mid-level managers. Our management team going forward will include individuals with many years of outstanding leadership in our company and the industry, increased global and international expertise, and more diversity of gender and race than ever before in our history. Served as Senior Vice President at Avon Products, Inc. Bank of America Announces Senior Leadership Changes. Senior Vice President at Bank Of America. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue. These materials are for informational purposes only. Personal email. Salary information comes from 3 data points collected directly from employees, users, and past and present job advertisements on Indeed in the past 36 months. The company is adding five new members, including three women, to the senior management team, further strengthening diversity at the most senior levels of the company. September 27, 2021 Mr. de Wecks experience as an executive with UBS AG (UBS) and Deutsche Bank AG (Deutsche Bank) enables him to bring extensive knowledge of the global financial services industry to our Board. Senior management jobs generally include positions within the following groups: Director, Vice President, C-level, and CEO. Valid. The diversity of roles across this expansive company provides a solid career foundation. Until that time, I have asked him to become vice chair, providing his expert stewardship on key issues and priorities on our management team. Salary Ranges for Bank Vice Presidents The salaries of Bank Vice Presidents in the US range from $20,175 to $530,728 , with a median salary of $96,788 . Alastair has most recently been president of Global Commercial Banking for nine years and previously was co-head of Global Capital Markets with responsibility for Equity Capital Markets, Investment Grade Debt Capital Markets, Leveraged Finance, and Global Origination for Rates & Currencies. Timothy Farrell is based out of New York, New York, United States and works at Bank Of America as Senior Vice President. jerome.f.dubrowski@bofa.com. Former Chairman and Global Head of Private Wealth Management, Deutsche Bank AG. The Many Vice Presidents A vice president title often is conferred as a promotion in place, with the recipient retaining ones current job and responsibilities. Ramesh Kaza Bank of America Senior Vice President Watch on Former Chairman, President and CEO, DIRECTV Lead Director, Kimberly-Clark Corporation. This website uses cookies to ensure you get the best experience on our website.View our privacy policy. Purna Saggurti will become a vice chair of the bank, reporting to Matthew and will continue to work with me on our Global Advisory Council. As we stated then, we drive Responsible Growth through four tenets: we must grow and win in the market; we must grow through our customer-focused strategy serving people, companies and institutions; we must grow in alignment with our risk framework; and we must grow in a sustainable manner through operational excellence, being a great place to work, and sharing success with our communities. Greater Seattle Area. Jun 2014 - Present8 years 10 months. Vice President and World Bank Group Chief Risk Officer. Chairman, President and Chief Executive Officer of Baxter International Inc. Mr. Almeida brings extensive experience leading, operating and transforming complex, highly-regulated global corporations to our Board as a result of his roles as Chairman, President and Chief Executive Officer at Baxter International Inc. (Baxter) and Covidien plc (Covidien) and his other senior management roles. How much does a Vice President at JP Morgan make? The highest paid Senior Vice Presidents work for D . When you visit these sites, you are agreeing to all of their terms of use, including their privacy and security policies. The company provides unmatched convenience in the United States, serving approximately 66 million consumer and small business clients with approximately 4,300 retail financial centers, approximately 17,000 ATMs, and award-winning digital banking with approximately 41 million active users, including approximately 32 million mobile users. Reveal contact info . Through her transition and beyond, Andrea will help create and chair a new Bank of America Alumni Council focused on connecting and engaging retirees and former employees of the company as clients, advocates and community leaders. With Cathys move to Europe, we are creating two distinct, dedicated organizations with deeply experienced leaders covering the former technology and operations organization. Are Not Deposits. The life of an investment bank vice president centers on two responsibilities: completing pitch books and managing client relationships. Furthermore,how much does a senior vice president of bank of america make? An assistant vice president is usually a regional director who provides high level management for a highly trained staff. Mr. Yosts roles as the former Chief Executive Officer of AmerisourceBergen Corporation (AmerisourceBergen) and its predecessor company enable him to bring his broad experience in strategic planning, regulated industries, risk management, and operational risk to our Board. These statements are not guarantees of future results or performance and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict and are often beyond Bank of Americas control. How much does a Director make at Bank of America in the United States? Market Data copyright 2023 QuoteMedia. Career advice on becoming a Senior Vice President. That depends on each companys organizational structure. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. She is based at the Bank of America branch in West Hartford Center. Statistics and metrics included in our ESG documents are estimates and may be based on assumptions or developing standards. Bank of America is a great company for anyone that's a self-starter and puts emphasis on continuous growth. The average salary range for a Vice President Commercial Bank is between $107,953 and $191,865. Is VP higher than coo? Bank of America has not been involved in the preparation of the content supplied at the unaffiliated sites and does not guarantee or assume any responsibility for its content. How much does a Vice President make at JPMorgan Chase in the United States? In addition, she was instrumental in the establishment of our new EU investment firm, BofASE, and the build-out of the firms new EU Sales and Trading hub in Paris to ensure we could effectively service our clients post-Brexit. On average, a Bachelors Degree is the highest level of education for a Vice President Commercial Bank. How much does a VP at Capital One make? Goldman Sachs Average base salary for vice presidents: $165,424 2. MLPF&S is a registered broker-dealer, registered investment adviser, Member SIPC and a wholly owned subsidiary of BofA Corp. Trust and fiduciary services are provided by Bank of America Private Bank, a division of Bank of America, N.A., Member FDIC, and a wholly-owned subsidiary of Bank of America Corporation (BofA Corp.). Merrill Lynch Salary FAQs The average salary for a Vice President is $166,656 per year in United States, which is 37% higher than the average Merrill Lynch salary of $120,877 per year for this job. A vice president is the most junior of the senior bankers and, as far as clients and higher-ups are concerned, carries the first legitimate title. Dean joined our company in 1996, and since that time has held senior, increasing leadership roles across consumer, preferred, small business, corporate lending, corporate strategy, and technology. Only in the 19th century, the bank office was a separate company and today it's one insignificant part of a huge corporation. Average Capital One Vice President yearly pay in the United States is approximately $182,349, which is 25% above the national average. Lauren has most recently been head of Global Compliance & Operational Risk, working directly with global regulators and supervisory institutions, governance committees, and our Board of Directors. Her public company board service for Target Corporation and Apple Inc., her past public company board service for The Walt Disney Corporation, and her past roles with the University of California and the University of Southern California give her board-level experience overseeing large organizations with diversified operations on matters such as governance, human capital management, executive compensation, risk management, and financial reporting. Vice Chair, Head of Enterprise Credit. These leaders will report to me unless otherwise noted. When an organization has a CEO and president, the VP is usually third in command. We strive to provide you with information about products and services you might find interesting and useful. Ms. Ramoss role as former Chief Executive Officer of ITT Inc. (ITT) enables her to bring senior executive leadership experience to our Board. Ms. Pike is also the former President of Business Banking at Bank of America, as well as, the former President of California for that corporation. BofA Securities, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA. How much does a Vice President at JP Morgan make? Robin Leopold, Head of Human Resources. Steve has most recently been president of Retail Banking and head of the Community Bank and Consumer Lending, and earlier was head of Consumer Lending and Home Loans. Mr. Woods chaired CIBCs Asset Liability Committee, served as CIBCs lead liaison with regulators, and was an active member of CIBCs business strategy group. An investment bank vice president is treated as an individual with their own thoughts and opinions. Bank of America CEO Brian Moynihan plans to stay through. 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