Bank of America Corp (BAC.N) Vice Chairman Anne Finucane and Chief Operating Officer Thomas Montag will retire from their positions, the bank said in a statement on Thursday.
Both Finucane and Montag will remain in their roles until the end of the year, BofA said, with succession plans set to be announced in the coming weeks.
Finucane joined Fleet Bank, which merged with Bank of America in 2004, 26 years ago. She currently handles BofA’s strategic positioning, sustainable finance and public policy efforts, among other responsibilities.
She was also the bank’s chief marketing officer for 10 years.
Following retirement, Finucane will assume the role of non-executive chairman at Bank of America Europe and transition to a non-executive board member role on BofA Securities Europe.
Montag, who is also retiring as president of Global Banking and Markets at BofA, was responsible for all business associated with companies and institutional investors at the bank in addition to his responsibilities as COO.
He had joined as executive vice president and head of global sales and trading at Merrill Lynch in 2008, prior to it merger with BofA.
Before that, Montag was with Goldman Sachs for 22 years
Both Finucane and Montag will become members of the bank’s Global Advisory Council after retiring.