Jeffrey J. Brown Named Treasurer of Bank of America

CHARLOTTE, N.C., Feb. 26 /PRNewswire/ -- Bank of America announced today that Jeffrey J. Brown has been named Corporate Treasurer and Charles F. Bowman Finance Business executive.

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Brown and Bowman are replacing J. Chandler (Chan) Martin who is retiring after 27 years of service with the company. Effective mid March, Martin's responsibilities will be divided between the two executives.

Brown is the company's deputy treasurer overseeing the balance sheet division. He will assume the core treasury functions for funding of the company, maintaining a strong capital and liquidity position and managing interest rate risk. He will report to Chief Financial Officer Joe Price.

Bowman currently oversees compliance for the company. He will assume responsibility for the company's private equity investments, the Global Securities and Trust Services business, and the company's economist and CR Analytics teams. He will also retain his North Carolina market president role and will report to Price.

"Jeff Brown is a strong leader whose experience in managing interest rate risk and net interest income makes him highly qualified to take on this important position," said Price. "Charles Bowman's deep understanding of compliance and securities are a powerful combination that will serve the business well.

"Chan's ability to lead while managing risk has long been admired in the company. He has tackled many tough challenges for us and we wish him the best in retirement."

In addition, Regina Sullivan replaces Bowman as Global Compliance and Operational Risk executive, reporting to Amy Woods Brinkley, Bank of America global risk executive. Sullivan's previous roles with the company have included head of compliance in Global Wealth and Investment Management and, most recently, head of audit in Global Consumer and Small Business Banking.

Bank of America

Bank of America is one of the world's largest 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. The company provides unmatched convenience in the United States, serving more than 59 million consumer and small business relationships with more than 6,100 retail banking offices, nearly 19,000 ATMs and award-winning online banking with nearly 24 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 175 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Global Fortune 500. Bank of America Corporation stock is listed on the New York Stock Exchange.