Alastair Borthwick has been named chief financial officer for Bank of America, effective in the fourth quarter of 2021. He is a member of the company’s executive management team.
In this role, Borthwick will have responsibility for the overall financial management of the company, including accounting, balance sheet management, financial planning and analysis, corporate treasury, investor relations, corporate investments and tax.
He is also one of the vice chairs for the company’s Global Diversity & Inclusion Council.
Borthwick most recently served as president of Global Commercial Banking for Bank of America, a position he assumed in 2012. He led the Commercial Bank, one of the firm’s eight lines of business, which delivers integrated banking solutions to clients across Middle Market Banking; Real Estate; Healthcare, Education and Not for Profit; and Dealer Financial Services.
Previously, Borthwick was a managing director and co-head of Global Capital Markets. In that role, he had responsibility for Equity Capital Markets, Investment Grade Debt Capital Markets, Leveraged Finance, and Global Origination for Rates & Currencies. Borthwick has also served as head of Global Investment Grade Debt Capital Markets. Borthwick joined the company in 2005, and spent the prior 12 years at Goldman Sachs.
Borthwick is a member of the board of directors of the Posse Foundation, one of the most comprehensive and renowned college access and youth development programs in the United States. He is also a member of the board of directors of BritishAmerican Business, the leading transatlantic trade association created as a result of the merger between the British-American Chamber of Commerce in the U.S. and the American Chamber of Commerce in the U.K.
Borthwick holds a masters’ degree in business administration from the Amos Tuck School at Dartmouth College, and he graduated from the University of St. Andrews in Scotland where he majored in economics and statistics. He is a member of the Board of Advisors for Tuck.