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Bank of America Names Jack Ovel Market President for Kansas City

Monday, August 5, 2013 10:00 am EDT

Dateline:

KANSAS CITY, Mo.

Public Company Information:

NYSE:
BAC
"As Kansas City market president, Jack will continue to leverage our local resources and talented team to support the needs of our clients as well as serve the community."

Bank of America today announced that John (Jack) Ovel has been named Kansas City market president. Ovel succeeds Spence Heddens, who led the market for seven years and will continue in his role as senior philanthropic manager for U.S. Trust Philanthropic Solutions.

As market president, Ovel will serve as the company’s enterprise leader in Kansas City. He will work across the region to help deliver a wide range of global financial services to individuals and businesses locally, as well as deepen relationships with existing customers. He will also oversee corporate social responsibility activities including philanthropic giving, community development lending and investing, environmental initiatives, diversity efforts, arts and culture projects, financial education and employee volunteerism.

“Jack’s range of experience in financial services as well as being deeply respected in the Kansas City region will benefit our customers as he takes on this key leadership role,” said Bank of America Chief Executive Officer Brian Moynihan. “As Kansas City market president, Jack will continue to leverage our local resources and talented team to support the needs of our clients as well as serve the community.”

In addition to his responsibilities as market president, Ovel serves as regional vice chairman for business development in U.S. Trust in Kansas City. U.S. Trust, Bank of America Private Wealth Management is a leading private wealth management organization providing vast resources and customized solutions to help meet clients' wealth structuring, investment management, banking and credit needs.

Ovel joined Bank of America in 2011 and has more than 40 years of financial experience in wealth management services. A native of Dyersville, Iowa, he has a bachelor’s degree in mathematics from Loras College in Dubuque and also earned his MBA from the University of Chicago with an emphasis in finance.

Long active in the community, Ovel currently serves as chairman of the board of Children’s Mercy Hospital and as a trustee emeritus of the Saint Luke’s Hospital Foundation, where he previously served as president. Other previous community engagement activities include board positions with Catholic Charities, Rockhurst High School, Friends of the Zoo, Missouri Rep Theatre and Seton Center. Ovel also served as chairman of the Kansas City Estate Planning Symposium, and was past president of the KC Estate Planning Society.

Last year, Bank of America employees in Kansas City volunteered 9,200 hours to local nonprofits and continue to play a major role in philanthropic initiatives, including United Way and Habitat for Humanity. More than $877,000 in philanthropic giving in 2012 helped nonprofit community organizations develop and grow, including those that provide basic human services such as hunger relief and housing assistance.

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. We serve approximately 51 million consumer and small business relationships with approximately 5,300 retail banking offices and approximately 16,350 ATMs and award-winning online banking with 30 million active users and more than 13 million mobile users. Bank of America is among the world's leading wealth management companies and is a global leader in 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 more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

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Contact:

Reporters May Contact:
Diane Wagner, Bank of America, 1.312.992.2370
diane.wagner@bankofamerica.com