Benito Almanza
announces retirement after 45 years at Bank of America and more
than two decades as Phoenix and Arizona
President
PHOENIX, March 30,
2023 /PRNewswire/ -- Bank of America has named
Scott Vanderpool president of Bank
of America Phoenix. The company also
announced that widely known business leader Benito Almanza plans to retire April 6 after 45 years of service with the
company and 22 years as Phoenix and Arizona president.
As Phoenix president, Vanderpool assumes the responsibilities
for connecting Bank of America's banking and investment resources
offered through the company's eight lines of business to people and
companies in the region. He also leads the effort to deploy the
company's resources to help advance economic mobility and build
strong communities.
Vanderpool joined Bank of America in 2007 and retains his role
as Phoenix market executive, leading operations for Phoenix and
working in partnership with the company's Phoenix leadership team
to drive market share growth, employee engagement and the bank's
brand locally.
Vanderpool previously held a leadership role as a Business
Banking market executive with the company in Colorado. He holds a bachelor's degree from
Arizona State University and received
an MBA from the University of California at
Riverside. Vanderpool also attended the Pacific Coast
Banking School, a graduate school within the University of Washington, where he serves as a
faculty member teaching their capstone leadership course.
Having deep ties to the Phoenix community, Vanderpool is engaged
in local nonprofit organizations and serves as the board chair of
the Arizona Banker's Association and is a board member of ICAN:
Improving Chandler Area Neighborhoods and Education Forward
Arizona. Vanderpool lives in Phoenix with his wife and two children.
During his distinguished career, Almanza delivered Bank of
America's resources to clients and communities in Phoenix and across Arizona, helping direct close to $125 million in philanthropic investments that
have led to better outcomes for tens of thousands of individuals
and families.
Civically active, Almanza holds membership in the California
State Bar Association and the U.S. District Court Northern District
Association and serves on the board of Arizona Community Foundation
and the Arizona Bankers Association. He also is a member of Greater
Phoenix Leadership and Greater Phoenix Economic Council. Almanza
has received numerous accolades for his contributions, most
recently including the award of Emeritus Status with Teach for
America and last fall he was named the inaugural recipient of
Education Forward Arizona's Luminary Award.
"Benito has led with distinction and made a lasting impact on
our employees, clients and nonprofit organizations," said
Brian Moynihan, chief executive
officer, Bank of America. "We thank him for breaking barriers and
serving as a role model for so many and look forward to continued
growth with Scott becoming the next Phoenix president."
In addition to his Phoenix president roles, Almanza held
leadership positions in a variety of areas within Global Commercial
Banking and Business Banking. As Business Banking vice chair, he
deepened connections with the Hispanic-Latino community and
business owners through his leadership of the Hispanic-Latino
Business Councils and by driving key initiatives.
Born in the farming community of Hanford, CA, Almanza's parents, who themselves
only had grade-school educations, encouraged their children to
pursue their education. Almanza excelled in school, earning degrees
from Stanford and Santa Clara University. For the past 10 years,
Almanza served on Stanford's Graduate
School of Business Alumni Interview team.
"The honor of representing Bank of America and creating
meaningful change across so many sectors has been one of the
privileges of my lifetime," said Almanza. "With the bank's
resources, we have created positive, generational impacts,
particularly in low- and moderate-income communities across
Arizona. Having worked alongside
Scott for many years now, our leadership team is in a great
position to continue delivering what Phoenix's economy needs from
us. None of this would have been possible without my family, so I
wish to acknowledge my wife, Rosa, and our children and
grandchildren for their unwavering support."
"I am looking forward to helping deliver on our continued
commitment of Responsible Growth across Phoenix, a community I care
deeply about," said Vanderpool. "We have much to be proud of here
in the Valley of the Sun, but we also have more work to do to build
a more inclusive economy. Together with our Bank of America team, I
know we can continue improving people's
financial lives."
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 approximately 67 million consumer and small
business clients with approximately 3,900 retail financial centers,
approximately 16,000 ATM and award-winning digital
banking with approximately 56 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. Bank of America offers
industry-leading support to approximately 3 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 approximately 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
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alerts.
Reporters may contact:
Britney Sheehan, Bank of
America
Phone: 1.425.467.9744
britney.w.sheehan@bofa.com
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SOURCE Bank of America Corporation