BoA's corporate risk veteran Vandiver to retire

Bank of America’s (BoA) corporate risk management executive Bill Vandiver will retire in March, following 35 years with the Charlotte-based financial services company. He will be replaced by Amy Woods Brinkley, presently deputy corporate risk management executive and chairman of credit policy.

Vandiver and Brinkley have been working together since last summer to firm up risk management practice at the bank, following a series of earlier profit warnings related to poor lending decisions. “Together they have put in place new processes and organisations to better align our risk profile with our business and strategic planning processes. Bill will continue to provide continuity and oversee implementation of these new processes with Amy through the end of the first quarter,” said BofA chairman and chief executive Kenneth Lewis.

Brinkley will assume day-to-day running of the corporate risk management function immediately. She has more than 20 years of leadership experience with the BoA, starting in the commercial credit area, and subsequently moving over to commercial banking and commercial risk.