Bank of America has named CP Parmar as market president for the Greater Sacramento region, which includes the counties of El Dorado, Placer, Sacramento, San Joaquin, Stanislaus and Yolo. In this role, Parmar is responsible for connecting the banking and investment solutions offered through our eight lines of business to companies, families and individuals. He will also lead the effort to deploy Bank of America’s resources to address social concerns, strengthen economic opportunity and build strong communities, as well as support the health, safety and engagement of local employees. Parmar succeeds Matt McCormack, who recently relocated to Southern California for a new role with Merrill.
Having started his financial services career as a Bank of America branch manager in Sacramento in 1999, Parmar currently serves as National Risk Detection executive for consumer and small business. He will continue in this role while also serving as market president.
“With 20-plus years’ experience across various lines of business at the bank locally, CP has helped us deliver responsible growth to our clients and the community, and in this new role will help ensure we continue to be a great partner in the Sacramento region,” said Brian Moynihan, chief executive officer, Bank of America.
Raised in Sacramento, Parmar received his Bachelor of Science degree from California State University, Sacramento and his Master in Business Administration from the University of Phoenix. An active member in the community, Parmar volunteers with Sacramento Food Bank, Sacramento County school system and has been a longtime coach for youth soccer. He was recently honored with a 2020 Global Diversity & Inclusion (D&I) Award by the company for his contributions to D&I, including serving as an executive market sponsor for the Hispanic/Latino Organization for Leadership and Advancement (HOLA) employee network, and being active with the bank’s Leadership, Education, Advocacy and Development for Women (LEAD) and Asian Leadership Network.
At Bank of America, we’re guided by a common purpose to help make financial lives better, through the power of every connection. We’re delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It’s demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. Connect with us on Twitter (@BofA_News).
Colleen Haggerty, Bank of America