Bank of America today announced that Mori Paulsen has been appointed market president, serving as the company’s enterprise leader in Salt Lake City. In addition to his market president role, Paulsen remains market executive with Merrill Lynch.
This leadership appointment follows Bank of America’s announced plans to expand its retail banking services to Salt Lake City, where it has a long history of serving clients. The company currently provides commercial and business banking, as well as wealth management services through Merrill Lynch®, to clients in the market. This expansion follows similar plans to expand in Pittsburgh, Indianapolis, Cleveland, Cincinnati, Columbus and Lexington.
As market president for Salt Lake City, Paulsen will work throughout the region to connect businesses, families and individuals to Bank of America’s banking, lending and investment teams. He will also lead the effort to direct the bank’s resources in the market to address local priorities and help build strong communities, including investments in environmental, social and governance (ESG) programs that help foster economic mobility in the community.
“Mori’s knowledge of Salt Lake City and surrounding areas will ensure we’re bringing to bear the company’s industry-leading capabilities to help our clients achieve their financial goals, drive responsible growth and fuel economic growth in this important market,” said Brian Moynihan, chief executive officer, Bank of America.
In addition to his role as market president, Paulsen is the market executive for three Merrill Lynch Wealth Management offices in Utah and Idaho, with combined assets under management of $8 billion and 73 financial advisors. Merrill Lynch is a leading provider of comprehensive wealth management and investment services for individuals and businesses globally.
Paulsen graduated from the University of Utah with a bachelor of science in accounting. Active in the community, he is the former chairman of the board for the Salt Lake Rape Recovery Center, and has served on the boards of the University of Utah President’s Club, Lowell Bennion Community Service Center, and the University of Utah Planned Giving Committee. He lives in Salt Lake City with his wife, Lisa. They have three sons.
Bank of America also will be deploying more philanthropic capital across Salt Lake City, including launching the company’s signature philanthropic program Neighborhood Builders® to support nonprofit leadership development and Student Leaders program.
"Investing in partnerships and programs that address issues fundamental to economic mobility is central to the expanded role Bank of America is looking to play in the Salt Lake City market,” said Paulsen. “It’s a tangible example of how we live our company purpose to make financial lives better, through the power of every connection.”
Bank of America is introducing Neighborhood Builders in Salt Lake City, supporting nonprofits focused on workforce development and education, community development, and basic needs. The number of markets Bank of America supports with this program will go from 66 to 98 annually in 2019. Each Neighborhood Builders awardee receives $200,000 in flexible funding, in-person leadership development for an executive director and an emerging leader at the organization, and the opportunity to connect to a network of peer organizations.
Bank of America is also expanding its national Student Leaders program to Salt Lake City, and in 2019 will connect nearly 300 community-minded high school juniors and seniors across the country to employment, skill development and service. The students receive paid summer internships with local nonprofits, such as Boys and Girls Clubs of America, and participate in a national leadership summit in Washington, D.C., which focuses on the intersection of government, business and nonprofits in creating social change. Nominations for the 2019 program are open now through February 1, 2019.
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 67 million consumer and small business clients with approximately 4,400 retail financial centers, approximately 16,100 ATMs, and award-winning digital banking with more than 36 million active users, including nearly 26 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 owners 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 more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
Reporters may contact:
Britney Sheehan, Bank of America