Bank of America
Paul M. Donofrio is vice chairman of Bank of America. He is a member of the company’s executive management team and co-chairs the Responsible Growth Committee. He also serves as Chair of Bank of America’s European banking entity, Bank of America Europe Designated Activity Company (DAC).
As vice chairman, Donofrio oversees the company’s sustainability activities, and stewards the work and progress to achieve Net Zero. This includes the company’s commitment to mobilize $1.5 trillion in sustainable finance by 2030, of which $1 trillion is to accelerate the transition towards a low carbon economy and $500 billion is for inclusive social development such as investments in Minority Depository Institutions and private equity funds. He also has responsibility for the investment function of the company’s pension, which totals over $22 billion. In addition, the BofA Global Research department and Bank of America Institute are part of his organization.
Donofrio joined the company in 1999. He most recently served as Bank of America’s chief financial officer for more than six years from 2015 to 2021. Before then, he held a number of key roles across the company, based in New York City and London. He served as co-head of Global Corporate and Investment Banking, head of Global Corporate Banking, head of Global Corporate Credit and Transaction Banking, co-head of Investment Banking, head of all Global Industry Groups and co-head of our Global Healthcare Group. His product experience includes M&A, global capital markets, including debt, equity, foreign exchange and derivative capital markets, as well as traditional banking products, such as loans, leases, global payments and deposits.
Prior to joining Bank of America, Donofrio worked at UBS, where he was a senior member of the healthcare group from 1994 to 1999, focusing on biotech, specialty pharmaceuticals, and large cap pharmaceutical companies. Previously, he worked at Kidder, Peabody & Co. in the health care, technology and debt restructuring groups.
Donofrio serves on the Board of Trustees for the 9/11 Memorial & Museum, and on the Board of Directors for The New York City Ballet.
A graduate of the United States Naval Academy, Donofrio served in the U.S. Navy from 1982 to 1988 as a naval flight officer.
This person is not in the org chart
This person is not in any offices
Bank of America
757 followers
Bank of America is one of the world’s largest financial institutions. Bank of America counts individuals, small and medium businesses, global corporations, and governments among its customers. Within the US, it serves approximately 56 million consumers and small businesses. Globally, it is recognized as a leader in wealth management, corporate and investment banking, and trading. Bank of America has eight business segments serving people, companies, and institutions. The bank has four business lines serving people: Retail, Preferred, Merrill Lynch Wealth Management, and Bank of America Private Bank. Retail offers consumers a suite of products and services through both digital and a large network of brick and mortar branches. Preferred supports clients with up to $250,000 in assets and small businesses with up to $5 million in revenue with cash management, investment solutions. Merrill Lynch Wealth Management serves clients with $250,000 in assets up to ultra high net worth, providing them with unique plans and advice to help each individual achieve their unique financial goals. Bank of America Private Bank provides ultra high net worth clients - those with over $3 million in investable assets - highly personalized, team-based services for investment and wealth management. The bank has three business segments serving companies: Business Banking, Global Commercial Banking, and Global Corporate & Investment Banking. Business Banking serves smaller U.S. companies with annual revenues of $5 million to $50 million through its network of local teams. Global Commercial Banking serves middle-market U.S. companies with revenues in the range of $50 million to $2 billion through a combination of local relationship managers backed by the full capabilities of the bank. These capabilities include treasury, lending, leasing, investment banking, risk management and international subsidiary banking services. The Global Corporate & Investment Banking segment serves clients exceeding $2 billion in revenues and government agencies across 38 countries. The bank provides treasury services, lending, leasing, advisory, and debt and equity underwriting solutions for these clients. For institutions, Bank of America’s Global Markets serves clients such as hedge funds, asset managers, pensions and other financial institutions. BofA provides global sales and trading services to these institutional clients across fixed income, credit, currencies, commodities and equities.