Bank of America Appoints Mary Hines Droesch as Head of Consumer and Small Business Products

Bank of America (BoA) (NYSE: BAC) reveals that it has appointed Mary Hines Droesch to serve as its Head of Consumer and Small Business Products.

Droesch brings over two decades of industry and senior management experience and deep product knowledge to Bank of America. Recently, she had been working as Chief Marketing Officer for Citigroup’s U.S. Consumer business.

Droesch joins Bank of America’s Regional Banking leadership team, “reporting to Dean Athanasia.” She is tasked with “leading the strategy, design, development and management of all lending and deposit products across Retail, Preferred and Small Business client segments, along with banking products for the company’s wealth management businesses.” She will also work cooperatively with the firm’s Enterprise Payments and Digital teams on payment integration.

“Our product team plays a critical role in our high-tech, high-touch approach to building relationships with clients by ensuring our industry-leading solutions stay ahead of clients’ evolving needs,” stated Dean Athanasia, President of Regional Banking.

Dean added:

“Mary has a proven track record of working with client-facing and digital teams to deliver for clients. She will ensure that we continue to design, enhance and deliver innovative solutions that help make our clients’ financial lives better.”

Droesch started off her career with Accenture and has held consumer product positions at  American Express and Citigroup. As Citi’s CMO, she was responsible for leading an organization of more than 500 workers across its U.S. cards, retail banking, wealth management and mortgage businesses.

She holds a BA in Economics and Political Science from Boston College, and an M.B.A. from Columbia Business School. She resides in New York City with her husband and two children.

This year Bank of America has been “recognized with more than 170 industry awards for its innovation, solutions, financial technology, and delivering exceptional service and experiences to its Retail, Preferred and Small Business clients.”

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 serves around 66 million consumer and small business clients “with approximately 4,300 retail financial centers, 17,000 ATMs, and award-winning digital banking with approximately 41 million active users, including approximately 32 million mobile users.”

As covered in July 2021, BoA formed a cryptocurrency research division, led by Alkesh Shah.

As reported in April 2021, BoA announced the acquisition of healthcare and payment tech firm Axia Technologies.

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