Chairman of Dublin-based Bank of America Europe steps down – The Irish Times | Popgen Tech
American banker Anne Finucane is stepping down as chairman of Dublin-based Bank of America Europe, handing over the torch to deputy chairman Paul Donofrio.
Ms Finucane will leave her post at the company’s European banking subsidiary at the end of the month, sources said. She will also leave her position as a board member at Bank of America Securities Europe, but will continue on the company’s global advisory board, the sources said.
A representative for Bank of America declined to comment.
Ms Finucane became the firm’s first chair of Bank of America Europe in 2018, and was the first female vice-chair at the parent company. She oversaw its transition through Brexit, leading sustainable finance efforts and global strategy. At the end of 2021, Ms Finucane transitioned to the non-executive chairman role at Bank of America Europe.
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Last month, she announced a carbon climate venture with Bank of America alum Tom Montag. Their new firm, Rubicon Carbon, is seeking $1bn (€940m) or a business aimed at the emissions offsets market, and is backed by TPG.
Ms Finucane (70) has worked her way up in the banking industry since 1995 when she was with Bank of America predecessor Fleet Bank. As one of the most senior women at the company, she was responsible for environmental, social and governance goals, as well as capital deployment and public policy efforts.
Mr Donofrio, 62, is vice chairman of Bank of America and was chief financial officer from 2015 until last year, when the bank announced its most significant leadership changes since the financial crisis. He was named vice chairman of Bank of America, overseeing sustainable finance, which he will continue to do. He has also held investment banking roles in Europe.
The most recent accounts for Bank of America Europe show it increased pre-tax profit nearly 13-fold to $749 million in 2021. – Bloomberg