BofA Names Chip McLeod Upstate South Carolina President

Rhea-AI Summary

Bank of America (NYSE:BAC) named Chip McLeod president of Upstate South Carolina, effective June 5, 2026. He succeeds Stacy Brandon, who retired after 39 years with the company.

McLeod brings 30+ years of wealth management experience and oversees a market with 270 employees, $710.8 million in loans, and $3.8 million in philanthropy since 2020.

News Market Reaction – BAC

-0.63%

-0.63% Session close to close

In the Jun 5 session, BAC declined 0.63%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement highlights a leadership transition in Upstate South Carolina and underscores Bank ...

Analysis

This announcement highlights a leadership transition in Upstate South Carolina and underscores Bank of America’s regional footprint, including 270 employees, 20 locations, and community investments such as $3.8 million in philanthropic funding and $643 million in commercial loans. In the broader context, BAC shares were trading above their 200-day MA and well above the 52-week low before this news. Investors monitoring this update may focus on local growth, community engagement metrics, and overall execution across key markets.

Key Figures

BAC price move: 3.38% Local employees: 270 employees Local locations: 20 locations +5 more

8 metrics

BAC price move 3.38% Price change over prior 24 hours before this news

Local employees 270 employees Bank of America and Merrill staff in Upstate South Carolina

Local locations 20 locations Bank of America and Merrill sites in Upstate South Carolina

Philanthropic funding $3.8 million Invested since 2020 in Upstate South Carolina

Small-business loans $67.8 million Extended in Upstate South Carolina

Commercial loans $643 million Extended in Upstate South Carolina

Volunteer hours 26,000 hours Employee volunteerism in Upstate South Carolina since 2020

U.S. clients 70 million Clients served in the United States

Historical Context

5 past events · Latest: Jun 03 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jun 03	Talent & hiring	Positive	-0.1%	Announcement of nearly 4,000 summer interns and campus recruits for 2026.
May 29	Arts sponsorship	Positive	+1.6%	New initiatives to support arts and cultural preservation work in Canada.
May 28	Housing initiative	Positive	-0.7%	Update on Community Homeownership Commitment delivering over $15B in loans.
May 21	Asset outlook	Positive	+0.5%	2026 outlook on specialty assets like CRE, farmland, timberland and energy.
May 19	Consumer study	Positive	+0.0%	Better Money Habits study on Gen Z financial behavior and support trends.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent corporate and community-focused news often coincided with modest price moves, with a mix of small alignments and occasional divergences versus broadly positive narratives.

Recent Company History

Recent BAC news has centered on talent, community initiatives, and strategic outlooks rather than hard financial metrics. On May 19, a Gen Z financial habits study saw a near-flat 0.02% move. Community and housing support news on May 28 (-0.65%) and cultural support in Canada on May 29 (1.63%) showed mixed reactions. The Specialty Asset Management outlook on May 21 coincided with a 0.51% gain. A June 3 talent announcement about nearly 4,000 interns corresponded to a -0.15% move. Today’s local leadership appointment fits this pattern of corporate- and community-focused updates.

Key Terms

atms, wealth management, stock

3 terms

atms financial

"approximately 15,000 ATMs (automated teller machines) and award-winning digital banking"

ATMs are “at‑the‑market” equity programs that let a company sell new shares directly into the open market over time at prevailing prices through a broker. For investors, ATMs matter because they offer companies a flexible way to raise cash without a large, one‑time offering, but they also dilute existing shareholders gradually — like adding more slices to a pie while the pie size may or may not grow.

wealth management financial

"Chip McLeod, Merrill Lynch Wealth Management senior resident director, has been named"

Wealth management is a professional service that helps people organize, grow and protect their money by combining investment advice with tax planning, retirement preparation and long-range financial planning into a single, ongoing strategy. Think of it as a personal financial coach and project manager who coordinates specialists and choices to meet life goals. For investors, it matters because it aligns investments with objectives, manages risk and seeks better after-tax outcomes over time.

stock financial

"Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange."

A stock is a share of ownership in a company, giving the holder a claim on a portion of the company’s assets and future profits. Stocks matter to investors because they provide a way to share in a business’s gains or losses—offering potential returns through price appreciation and dividends but also exposing owners to risk if the company performs poorly; imagine buying a small slice of a pie whose size can grow or shrink over time.

View in glossary

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Stacy Brandon retires after 39 years with the company 

Key Points

• Bank of America announced that Chip McLeod has been named president of Upstate South Carolina.
• McLeod succeeds Stacy Brandon, who retired from BofA after 39 years.
• McLeod will lead Bank of America's efforts to grow market share in the Upstate, which includes Anderson, Greenville, Laurens, Pickens, and Spartanburg counties.

GREENVILLE, S.C., June 5, 2026 /PRNewswire/ -- Bank of America announced that Chip McLeod, Merrill Lynch Wealth Management senior resident director, has been named president of Upstate South Carolina. He succeeds Stacy Brandon, who led the market for more than 10 years and retired from the company after 39 years.

As president and head of the market, McLeod will connect clients, teammates, and communities to the full power of the franchise and drive collaboration across the company's eight lines of business. He will lead Bank of America's efforts to grow market share in the Upstate by building strong local connections and identifying opportunities to deepen and expand relationships.

"Chip's established leadership and experience will ensure we're delivering on our responsible growth strategy to deepen relationships with clients, the community and teammates," said Brian Moynihan, chair and chief executive officer of Bank of America. "Chip will continue to grow our market share in the Upstate, delivering the full breadth of Bank of America's capabilities to help our local clients improve their financial lives. We thank Stacy for her remarkable 39 years of service with the company."

McLeod has more than three decades of experience in wealth management and financial services. He joined Merrill in 2007 and leads its work in Spartanburg, South Carolina, overseeing 14 associates.

McLeod is active in communities across South Carolina. Governor Hodges appointed him to the Council of Advisors on Consumer Credit in 2001, and he still serves. He is president of the Spartanburg Downtown Rotary and is a past president of the Spartanburg Estate Planning Council and the Spartanburg Philharmonic Board. He is also a former board member of the South Carolina Council on Economic Education at the Darla Moore School of Business at the University of South Carolina. He graduated from Clemson University.

Market facts: Bank of America Upstate South Carolina

• 270 local Bank of America and Merrill employees at 20 locations supporting clients.
• Since 2020, Bank of America has invested $3.8 million in philanthropic funding for organizations across Upstate South Carolina to empower community leadership, drive economic mobility and support individuals in achieving their goals.
• Bank of America has extended $67.8 million in small-business loans and $643 million in commercial loans in the Upstate, helping fuel economic growth, entrepreneurship, and job creation.
• Since 2020, Bank of America employees in the Upstate have volunteered more than 26,000 hours to support local nonprofits, businesses, and community initiatives.

Bank of America

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 nearly 70 million clients with approximately 3,500 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 59 million verified digital 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. As the #1 small business lender in the United States (FDIC), Bank of America offers industry leading support to approximately 4 million small business households 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.

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

Reporters may contact
Matthew Daily, Bank of America       
Phone: 1.404.607.2844
matthew.daily@bofa.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/bofa-names-chip-mcleod-upstate-south-carolina-president-302791853.html

SOURCE Bank of America Corporation

FAQ

Who is Chip McLeod and what role did Bank of America (BAC) give him in June 2026?

Chip McLeod was appointed president of Upstate South Carolina for Bank of America. According to Bank of America, he previously served as a Merrill Lynch Wealth Management senior resident director and brings more than three decades of wealth management and financial services experience.

What are Chip McLeod’s responsibilities as Bank of America Upstate South Carolina president?

Chip McLeod will lead Bank of America’s efforts to grow market share in Upstate South Carolina. According to Bank of America, he will connect clients, teammates, and communities across eight business lines and deepen relationships in Anderson, Greenville, Laurens, Pickens, and Spartanburg counties.

Who did Chip McLeod replace as Bank of America Upstate South Carolina president and what is Stacy Brandon’s background?

Chip McLeod succeeds Stacy Brandon as president of Upstate South Carolina. According to Bank of America, Brandon led the market for more than 10 years and retired after 39 years with the company, marking a long leadership tenure in the region.

How many employees and locations does Bank of America have in Upstate South Carolina?

Bank of America reports 270 local Bank of America and Merrill employees in Upstate South Carolina. According to Bank of America, these employees operate across 20 locations, supporting clients throughout Anderson, Greenville, Laurens, Pickens, and Spartanburg counties with banking and wealth services.

How much has Bank of America invested in philanthropy and loans in Upstate South Carolina since 2020?

Bank of America has invested $3.8 million in philanthropic funding in Upstate South Carolina since 2020. According to Bank of America, it has also extended $67.8 million in small-business loans and $643 million in commercial loans, plus 26,000 employee volunteer hours.

What community and professional roles does Chip McLeod hold in South Carolina?

Chip McLeod is active in several South Carolina organizations. According to Bank of America, he serves on the Council of Advisors on Consumer Credit, is president of Spartanburg Downtown Rotary, and has held leadership roles with the Spartanburg Estate Planning Council and Spartanburg Philharmonic Board.