Brigitte Lacombe
Anne Finucane is stepping down as chair of Financial institution of America Corp. Europe and passing the torch to Vice Chairman Paul Donofrio.
Finucane will depart her publish on the finish of the month on the firm’s European banking subsidiary, which relies in Eire, folks acquainted with the matter stated. She may even exit her place as board member at Financial institution of America Securities Europe, however proceed on the corporate’s world advisory council, the folks stated, asking to not be recognized discussing a non-public matter. A consultant for Financial institution of America declined to remark.
Finucane grew to become the agency’s first chair of Financial institution of America Europe in 2018, and was the primary feminine vice chairman on the guardian firm. She oversaw its transition by Brexit, and led sustainable-finance efforts and world technique. On the finish of 2021, Finucane transitioned to the nonexecutive chairman position at Financial institution of America Europe. Final month, she introduced a carbon local weather enterprise with Financial institution of America alum Tom Montag. Their new agency, Rubicon Carbon, is trying to increase $1 billion for a enterprise geared toward the marketplace for emissions offsets, and is backed by TPG. Finucane, 70, has labored her method up within the banking business since 1995, when she was at Financial institution of America predecessor Fleet Financial institution. As one of the vital senior ladies on the firm, she’s been liable for environmental, social and governance targets, in addition to capital deployment and public coverage efforts. Donofrio, 62, is vice chairman of Financial institution of America and was chief monetary officer from 2015 till final 12 months, when the financial institution introduced its most vital management adjustments because the monetary disaster. He was named vice chairman of Financial institution of America, overseeing sustainable finance, which he’ll proceed to do. He is additionally held funding banking roles in Europe. — Katherine Doherty, Bloomberg Information, with help from Paige Smith