Paul M. Donofrio is vice chair at Bank of America, and continues as chief financial officer (CFO) of the company into the fourth quarter of 2021. He is a member of the company’s executive management team.
As vice chairman, Donofrio oversees the company’s Sustainable Finance strategy and chairs our Sustainable Markets Committee. He and his organization steward the company’s efforts in support of our $1.5 trillion sustainable finance commitment, including oversight of our investments in Minority Depository Institutions and private equity funds through our $1.25 billion commitment to racial equality and economic opportunity, as well as investments made through our $1 trillion Environmental Business Initiative. He also has responsibility for the investment function for the company’s pension investments, which total over $22 billion. In addition, the BofA Global Research team reports to him.
Donofrio has served as Bank of America’s CFO since mid-2015. He joined Bank of America in 1999 and has served in many key roles in the company’s corporate and investment bank, including co-head of Global Corporate and Investment Banking and co-head of Global Investment Banking. During his career, he also led Global Corporate Banking, Global Industry Groups, Global Health Care, Consumer and Retail, and the Technology, Media and Telecom Group. In addition, as head of Global Corporate Credit and Transaction Banking, he managed the assets and liabilities of the bank, including loans, leases and other assets, and bank deposits.
Prior to joining Bank of America, Donofrio worked at UBS, where he was a senior member of the health care group from 1994 to 1999, focusing on biotech, specialty pharmaceuticals, and large cap pharmaceutical companies. Previously, he worked at Kidder, Peabody & Co. in the health care, technology and debt restructuring groups.
Donofrio served in the U.S. Navy from 1982 to 1988 as a naval flight officer.