Al Arguello to retire as Market President after 53 years with the company
Bank of America has named Bansree Parikh as president of Bank of America Inland Empire. Parikh succeeds Al Arguello, who has served as Inland Empire market president since 2007 and announced his retirement earlier this month.
During his time leading the bank’s efforts in the Inland Empire, Arguello spearheaded collaborative efforts to address issues impacting the region, such as his leadership in forming the Housing Opportunities Collaborative of the Inland Empire supporting nonprofits helping distressed families facing foreclosures, and helping create the MicroEnterprise Collaborative of Inland Southern California supporting micro-business development in the region.
“During Al’s 53 distinguished years with our company, he has made a lasting impact on communities not only in the Inland Empire, but also across Southern California, as well as within our company,” said Brian Moynihan, chief executive officer, Bank of America. “We thank him for his leadership and look forward to continued growth and success with Bansree taking on this critical role.”
“I am a testament for how Bank of America creates long-term career paths for people from all backgrounds, enabling me to make long-term, meaningful contributions to the community that can positively impact future generations. I am grateful to the bank for offering me the most rewarding career imaginable, and am eager to support Bansree and the rest of my colleagues as a private citizen and community member,” said Arguello.
As Inland Empire president, Parikh will be responsible for connecting the banking and investment resources offered through the bank’s eight lines of business to people and companies across the region. She will also lead the effort to deploy Bank of America's resources to address social and economic concerns, build strong communities and support the health and safety of local teammates.
Parikh will continue to serve as Business Banking market executive, working with local companies with annual revenues between $5 million - $50 million, in addition to her responsibilities as president for the Inland Empire. With more than 25 years of experience in the financial services industry, she joined the bank in 2006 and has held several leadership roles in commercial banking.
A leader with the bank’s California Women's Leadership Network, Parikh mentors numerous female teammates, and serves as the executive sponsor for the region’s employee Asian Leadership Network. She also serves as a member of Inland Action San Bernardino, a community advocacy organization addressing economic well-being and development across Inland Empire. Parikh earned a Bachelor of Business Administration in accounting and finance from California State University, Fullerton.
In addition to Parikh’s appointment as president, long time community relations manager Cathy Paredes has been promoted to Inland Empire market executive, working with Parikh to help drive client and community economic growth in addition to overseeing local partnerships, sponsorships and philanthropy in the region.
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 66 million consumer and small business clients with approximately 4,300 retail financial centers, including approximately 2,700 lending centers, 2,600 financial centers with a Consumer Investment Financial Solutions Advisor and approximately 2,400 business centers; approximately 17,000 ATMs; and award-winning digital banking with approximately 39 million active users, including approximately 31 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 households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
Reporters may contact:
Colleen Haggerty, Bank of America