February 12, 2016 — LAS VEGAS — Bank of America today announced that Al Welch has been named market president, serving as the company’s enterprise leader in Las Vegas. Welch succeeds George W. Smith, who led the market since 1992 and recently announced his intention to retire from Bank of America at the end of February 2016.
In this role, Welch will work across the region to connect Bank of America’s business lines to deliver integrated financial services to individuals, families and businesses. He will also lead Bank of America’s corporate social responsibility work in the market, which leverages the capabilities of the company to help partners, people, communities and a broad client and customer base more effectively address a wide range of issues.
“Al’s knowledge of southern Nevada and leadership as market president will ensure we’re helping to make our customers and clients’ financial lives better, through the power of every connection we can make with them,” said Brian Moynihan, chief executive officer, Bank of America.
Welch brings outstanding leadership credentials to the market president role. He previously served as market integration executive, working with regional and market line-of-business leaders to drive business integration. “Al is a natural for this position,” said Smith, “as he has a solid understanding of our capabilities in all lines of business.”
He joined Bank of America in 1989 and currently is Global Commercial Banking executive for the Desert Mountain market, a region that includes Nevada, Arizona and Utah, as well as the company’s Commercial Gaming Business on a national basis. In this role, he and his team are responsible for delivering the full scope of Bank of America’s products and advisory services to commercial companies with revenue ranging from $50 million to $2 billion.
Welch is an active community leader, serving as board member for the American Red Cross-Southern Nevada Chapter and St. Rose Dominican Health Foundation. He is also a member of UNLV College of Business Executive Advisory Board. He earned bachelor degrees in finance and marketing, and a master of finance degree from Texas A&M University.
Bank of America
Bank of America is one of the world’s 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. The company provides unmatched convenience in the United States, serving approximately 47 million consumer and small business relationships with approximately 4,700 retail financial centers, approximately 16,000 ATMs, and award-winning online banking with approximately 32 million active users and approximately 19 million mobile users. 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. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
SOURCE: Bank of America