Paul M. Donofrio is vice chairman of Bank of America. He is a member of the company’s executive management team and co-chairs the Responsible Growth Committee. He also serves as Chair of Bank of America’s European banking entity, Bank of America Europe Designated Activity Company (DAC).
As vice chairman, Donofrio oversees the company’s sustainability activities, and stewards the work and progress to achieve Net Zero. This includes the company’s commitment to mobilize $1.5 trillion in sustainable finance by 2030, of which $1 trillion is to accelerate the transition towards a low carbon economy and $500 billion is for inclusive social development such as investments in Minority Depository Institutions and private equity funds. He also has responsibility for the investment function of the company’s pension, which totals over $22 billion. In addition, the BofA Global Research department and Bank of America Institute are part of his organization.
Donofrio joined the company in 1999. He most recently served as Bank of America’s chief financial officer for more than six years from 2015 to 2021. Before then, he held a number of key roles across the company, based in New York City and London. He served as co-head of Global Corporate and Investment Banking, head of Global Corporate Banking, head of Global Corporate Credit and Transaction Banking, co-head of Investment Banking, head of all Global Industry Groups and co-head of our Global Healthcare Group. His product experience includes M&A, global capital markets, including debt, equity, foreign exchange and derivative capital markets, as well as traditional banking products, such as loans, leases, global payments and deposits.
Prior to joining Bank of America, Donofrio worked at UBS, where he was a senior member of the healthcare 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 serves on the Board of Trustees for the 9/11 Memorial & Museum, and on the Board of Directors for The New York City Ballet.
A graduate of the United States Naval Academy, Donofrio served in the U.S. Navy from 1982 to 1988 as a naval flight officer.