Bank of America today announced that Katie Simpson has been appointed Minneapolis/St. Paul market president, serving as the company’s enterprise leader. Simpson succeeds Larry Kloth, who led the market for the last three years and recently announced his retirement from Bank of America following a distinguished 35-year career at Merrill Lynch Wealth Management.
As market president, Simpson will work across the region to connect Bank of America’s business lines to deliver integrated financial services to individuals, families and businesses. She will also lead Bank of America’s environmental, social and governance work in the market, which leverages the unmatched capabilities of the company to help partners, people, communities, and a broad client and customer base to more effectively address a wide range of issues.
“Katie and our team in Minneapolis/St. Paul are delivering on our responsible growth strategy by helping our customers and clients live their financial lives through the power of every connection we can make with them,” said Brian Moynihan, chief executive officer, Bank of America.
In addition to her responsibilities as market president, Simpson is the market executive for Global Commercial Banking covering Minnesota, Wisconsin and North Dakota, leading a team of middle-market professionals who leverage the product breadth, industry expertise and global presence of the bank to deliver integrated financial solutions to mid-sized companies and institutions in the state.
Simpson joined Bank of America in 2007 and spent time in various lines of business, supporting both commercial clients and high net worth individuals. She has a bachelor’s degree in political science from Trinity College and an MBA in finance from the University of North Carolina Kenan-Flagler Business School.
Bank of America’s Minneapolis/St. Paul employees last year volunteered more than 5,550 hours to support local nonprofits, and the company’s philanthropic giving helped local organizations develop and grow, including those that provide basic human services such as hunger relief, housing assistance and workforce development. The company’s philanthropic support includes City of Lakes Community Land Trust, EMERGE, Second Harvest Heartland, and College Possible.
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 46 million consumer and small business relationships with approximately 4,600 retail financial centers, approximately 15,900 ATMs, and award-winning online banking with approximately 34 million active accounts and nearly 22 million mobile active 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 in all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
Reporters May Contact:
Diane Wagner, Bank of America