Prime Highlights
- Bank of America unites its consumer, retail, and preferred banking franchises under Holly O’Neill.
- President of Preferred Banking Aron Levine departs the company after 33 years.
Key Facts
- Holly O’Neill’s new role will encompass services to 69 million individual consumers.
- David Tyrie to lead a new business combining marketing, digital, and specialized consumer client solutions.
Key Background
Bank of America has announced a major re-juggling of consumer banking leadership, promoting Holly O’Neill to a new role—President, Consumer, Retail, and Preferred Banking. The move unites the headship of two previously distinct units as the bank seeks to simplify leadership and integrate consumer products. O’Neill has close to 30 years of service with the bank, having held senior positions in retail banking, private banking, and wealth management. She has an experience of leading projects that had enhanced customer services and increased client involvement.
When O’Neill assumes her new enlarged role, she will be responsible for serving 69 million individual customers at 3,700 financial centers and 15,000 ATMs. She will also oversee client care and service operations. The reorganization is the culmination of six consecutive years of new checking account growth and customer satisfaction at record levels. The reorganization will build on that momentum by applying consistent leadership to all customer touchpoints.
Aron Levine, the preferred banking business head, is quitting Bank of America to greener pastures away from the company. He worked for thirty years, drove performance through consumer banking, global wealth management, and commercial real estate businesses. His exit marks the end of an era of endless work and innovation in customer service.
While so, David Tyrie has taken on the role of President of a new unit that brings together marketing, digital channels, and specialized consumer solutions. That includes Merrill Edge, employee financial well-being initiatives, and consumer lending products. Tyrie, an experienced bank leader, has led dramatic digital engagement growth, which mirrors the company’s growing emphasis on digital-first experiences. The newly reorganized leadership structure further emphasizes Bank of America‘s strategic priorities—integrated services, customer-driven innovation, and operating efficiency.
