Thursday, April 17, 2008
BofA Continues Mining Fidelity Talent
News summary by MFWire's editors
bigwig has stepped into a new role at Bank of America
. Claire Huang
, who stepped down from her position as executive vice president of marketing at Fidelity at the end of 2007, will head up marketing for BofA's Global Wealth & Investment
Huang's hiring is the latest in the pipeline between BofA and Fidelity that notably included the hiring last year of Jeff Carney
, who previously headed FESCo. Carney now serves as the president of retirement and global wealth and investment management client solutions at BofA.
Another ex-Fidelity executive that joined BofA last year is Bill Carey
, formerly the head of national accounts at Fidelity investments institutional services company. He joined BofA as national executive of business retirement solutions.
Huang's task in the mutual fund area will be to build the profile of BofA's retail and institutional investment management arm, Columbia Management
Company Press Release
BOSTON, April 17 /PRNewswire/ -- Bank of America today announced Claire
Huang has been named the head of marketing for its Global Wealth & Investment
Management division. Huang is responsible for developing and executing
marketing strategy for the company's businesses serving affluent, wealthy,
ultra wealthy and institutional clients nationwide. She will report to Bank
of America Chief Marketing Officer Anne Finucane.
Huang brings nearly 25 years of corporate marketing and brand management
experience to her new role, most recently serving as executive vice
president, marketing and segment management, for Fidelity Investments.
Huang will focus on building the company's profile and brand equity in key
areas, including: banking, investment and retirement services for the
affluent (Premier Banking & Investments); private banking (U.S. Trust, Bank
of America Private Wealth Management); retail and institutional investment
management (Columbia Management), and alternative investments (Bank of
America Alternative Investment Solutions).
"Claire is one of the nation's most distinguished marketing executives,
possessing extensive expertise building highly effective brand awareness
campaigns geared toward mass affluent consumers in the areas of retirement
services and investment solutions," Finucane said. "She is assuming this
position at a pivotal time, as Bank of America recognizes great opportunity
to significantly expand its presence in the retirement marketplace."
Commenting on the appointment, Bank of America Global Wealth & Investment
Management President Keith Banks, said, "Claire's leadership and experience
will help to further crystallize our understanding of our clients' needs and
bring greater visibility to the tailored wealth management strategies and
solutions that Bank of America provides."
In her previous position at Fidelity Investments, Huang was responsible for
client acquisition, retention and brand strategies and was chairperson for
the company's Global Marketing Board. She previously served as chief
marketing officer for American Express Financial Advisors and was responsible
for client acquisition and development, brand building and awareness,
competitive research and customer satisfaction and loyalty. Earlier, Huang
held marketing leadership positions with several major consumer goods
companies, including Wise Foods, Inc., The Haagen-Dazs Co., Cadbury Schweppes
and The Procter & Gamble Co. She holds an economics degree from De La Salle
University in Manila, Philippines.
About Global Wealth & Investment Management
Global Wealth & Investment Management entities deliver comprehensive
financial solutions shaped by personalized investment guidance and
client-focused services to more than three million individual and
institutional clients across the U.S. One of the primary divisions of Bank of
America, Global Wealth & Investment Management consists of Bank of America
Premier Banking & Investments, U.S. Trust, Bank of America Private Wealth
Management, Bank of America Retirement & Global Wealth & Investment
Management Client Solutions, Columbia Management and Bank of America
Alternative Investment Solutions, serving affluent, wealthy, ultra wealthy
and institutional clients. As of December 31, 2007, Global Wealth &
Investment Management has over $946 billion in client assets under
administration, including $643.5 billion in assets under management.(1)
About Bank of America
Bank of America is one of the world's largest 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 more than 59
million consumer and small business relationships with more than 6,100 retail
banking offices, nearly 19,000 ATMs and award-winning online banking with
nearly 24 million active users. Bank of America is the No. 1 overall Small
Business Administration (SBA) lender in the United States and the No. 1 SBA
lender to minority-owned small businesses. The company serves clients in 175
countries and has relationships with 99 percent of the U.S. Fortune 500
companies and 83 percent of the Global Fortune 500. Bank of America
Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
Global Wealth & Investment Management is a division of Bank of America
Corporation. Banc of America Investment Services, Inc.®, U.S. Trust, Bank of
America Private Wealth Management and Columbia Management are all affiliates
within Global Wealth & Investment Management.
Premier Banking & Investments™ is offered through Bank of America Premier
Banking® and Banc of America Investment Services, Inc.
Banking products are provided by Bank of America, N.A., Member FDIC.
Banc of America Investment Services, Inc. is a registered broker-dealer,
member FINRA and SIPC, and a nonbank subsidiary of Bank of America, N.A.
U.S. Trust, Bank of America Private Wealth Management operates through Bank
of America, N.A., a wholly owned subsidiary of Bank of America Corporation.
Columbia Management Group, LLC ("Columbia Management") is the investment
management division of Bank of America Corporation. Columbia Management
entities furnish investment management services and products for
institutional and individual investors.
Alternative Investment Solutions ("AI Solutions") is part of Global Wealth &
Investment Management, a division of Bank of America Corporation, and
provides qualified clients with a range of alternative asset products. AI
Solutions performs advisory services through Banc of America Investment
Advisors, Inc. (BAIA), Bank of America Capital Advisors LLC (BACA), U.S.
Trust Hedge Fund Management, Inc. and UST Advisers, Inc.
(1) Source: Bank of America. Global Wealth and Investment Management is
the wealth and investment management division of Bank of America
Corporation. As of December 31, 2007, Global Wealth and Investment
Management entities managed assets of $643.5 billion.
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