Brigitte Lacombe
Anne Finucane is stepping down as chair of Bank of America Corp. Europe and passing the torch to Vice Chairman Paul Donofrio.
Finucane will leave her post at the end of the month at the company’s European banking subsidiary, which is based in Ireland, people familiar with the matter said. She will also exit her position as board member at Bank of America Securities Europe, but continue on the company’s global advisory council, the people said, asking not to be identified discussing a private matter. A representative for Bank of America declined to comment.
Finucane became the firm’s first chair of Bank of America Europe in 2018, and was the first female vice chairman at the parent company. She oversaw its transition through Brexit, and led sustainable-finance efforts and global strategy. At the end of 2021, Finucane transitioned to the nonexecutive chairman role at Bank of America Europe. Last month, she announced a carbon climate venture with Bank of America alum Tom Montag. Their new firm, Rubicon Carbon, is looking to raise $1 billion for a business aimed at the market for emissions offsets, and is backed by TPG. Finucane, 70, has worked her way up in the banking industry since 1995, when she was at Bank of America predecessor Fleet Bank. As one of the most senior women at the company, she’s been responsible for environmental, social and governance goals, as well as capital deployment and public policy efforts. 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’s also held investment banking roles in Europe. — Katherine Doherty, Bloomberg News, with assistance from Paige Smith
