Bank of America (NYSE: MER) elevates Athanasia, DeMare to Co-Presidents

Rhea-AI Filing Summary

Bank of America Corporation has made several senior leadership changes. Dean C. Athanasia, currently President of Regional Banking, and James P. DeMare, currently President of Global Markets, have been appointed as Co-Presidents of the Corporation. In addition, Alastair M. Borthwick, who serves as Chief Financial Officer, has also been appointed Executive Vice President of the Corporation.

These appointments were announced in a press release dated September 12, 2025, which is filed as Exhibit 99.1 and incorporated by reference into this report.

Insights

Bank governance and leadership analyst

Bank of America reshapes top leadership with new Co-Presidents.

Bank of America Corporation has elevated Dean C. Athanasia and James P. DeMare to Co-Presidents while adding the Executive Vice President title to CFO Alastair M. Borthwick. This concentrates key roles in executives already running major business lines (Regional Banking and Global Markets) and formalizes the senior status of the CFO.

The changes may reflect internal succession planning and a desire to align corporate titles with existing responsibilities. However, the disclosure does not include financial targets, cost impacts, or strategy shifts tied to these moves, so the direct effect on performance is unclear.

Future company communications and periodic reports may offer more detail on how responsibilities are divided between the Co-Presidents and how Borthwick’s expanded title interacts with his CFO role.

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As filed with the Securities and Exchange Commission on September 12, 2025

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):

September 12, 2025

BANK OF AMERICA CORPORATION

(Exact name of registrant as specified in its charter)

Delaware

1-6523

56-0906609

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

100 North Tryon Street

Charlotte, North Carolina 28255

(Address of principal executive offices)

(704) 386-5681

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common Stock, par value $0.01 per share			BAC			New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of Floating Rate Non-Cumulative Preferred Stock, Series E			BAC PrE			New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 6.000% Non-Cumulative Preferred Stock, Series GG			BAC PrB			New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 5.875% Non-Cumulative Preferred Stock, Series HH			BAC PrK			New York Stock Exchange
7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L			BAC PrL			New York Stock Exchange
Depositary Shares, each representing a 1/1,200th interest in a share of			BML PrG			New York Stock Exchange
Bank of America Corporation Floating Rate Non-Cumulative
Preferred Stock, Series 1
Depositary Shares, each representing a 1/1,200th interest in a share of			BML PrH			New York Stock Exchange
Bank of America Corporation Floating Rate Non-Cumulative
Preferred Stock, Series 2
Depositary Shares, each representing a 1/1,200th interest in a share of			BML PrJ			New York Stock Exchange
Bank of America Corporation Floating Rate Non-Cumulative
Preferred Stock, Series 4
Depositary Shares, each representing a 1/1,200th interest in a share of			BML PrL			New York Stock Exchange
Bank of America Corporation Floating Rate Non-Cumulative
Preferred Stock, Series 5
Floating Rate Preferred Hybrid Income Term Securities of BAC Capital Trust XIII (and the guarantee related thereto)			BAC/PF			New York Stock Exchange
5.63% Fixed to Floating Rate Preferred Hybrid Income Term Securities of BAC Capital Trust XIV (and the guarantee related thereto)			BAC/PG			New York Stock Exchange
Income Capital Obligation Notes initially due December 15, 2066 of Bank of America Corporation			MER PrK			New York Stock Exchange
Senior Medium-Term Notes, Series A, Step Up Callable Notes, due			BAC/31B			New York Stock Exchange
November 28, 2031 of BofA Finance LLC (and the guarantee of the
Registrant with respect thereto)
Depositary Shares, each representing a 1/1,000th interest in a share of 5.375% Non-Cumulative Preferred Stock, Series KK			BAC PrM			New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 5.000% Non-Cumulative Preferred Stock, Series LL			BAC PrN			New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 4.375% Non-Cumulative Preferred Stock, Series NN			BAC PrO			New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 4.125% Non-Cumulative Preferred Stock, Series PP			BAC PrP			New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 4.250% Non-Cumulative Preferred Stock, Series QQ			BAC PrQ			New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 4.750% Non-Cumulative Preferred Stock, Series SS			BAC PrS			New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
Emerging growth company			☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 8.01 Other Events.

On September 12, 2025, Bank of America Corporation (the “Corporation”) issued a press release announcing that Dean C. Athanasia, President, Regional Banking, and James P. DeMare, President, Global Markets, have been appointed Co-Presidents of the Corporation and Alastair M. Borthwick has been appointed the Corporation’s Executive Vice President, in addition to his current role as Chief Financial Officer. A copy of the press release is attached hereto as Exhibit 99.1, and is incorporated herein by reference.

ITEM 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The following exhibits are filed herewith:

EXHIBIT NO.						DESCRIPTION OF EXHIBIT
99.1						Bank of America Corporation press release dated September 12, 2025
104						Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			BANK OF AMERICA CORPORATION
			By:			/s/ Ross E. Jeffries, Jr.
						Ross E. Jeffries, Jr.
						Deputy General Counsel and Corporate Secretary

Dated: September 12, 2025

FAQ

What leadership changes did Bank of America (MER) announce in this 8-K?

Bank of America Corporation announced that Dean C. Athanasia and James P. DeMare have been appointed Co-Presidents, and Alastair M. Borthwick, its Chief Financial Officer, has also been appointed Executive Vice President.

What are the current roles of the new Co-Presidents at Bank of America (MER)?

Dean C. Athanasia serves as President, Regional Banking, and James P. DeMare serves as President, Global Markets. Both have now been appointed Co-Presidents of Bank of America Corporation.

What new title did Bank of America (MER) give its Chief Financial Officer?

Bank of America Corporation appointed its Chief Financial Officer, Alastair M. Borthwick, as Executive Vice President, in addition to his existing CFO role.

How were these Bank of America (MER) leadership changes communicated?

The changes were announced in a press release dated September 12, 2025, which is filed as Exhibit 99.1 and incorporated by reference in the report.

Does this Bank of America (MER) filing include financial results or earnings data?

No, this report focuses on leadership appointments and references a press release; it does not present earnings or other financial results.

Under which item of the 8-K were these Bank of America (MER) changes reported?

The leadership changes are disclosed under Item 8.01, Other Events, indicating they are considered significant corporate developments.