Terry P. LaughlinDownload Biography (PDF)
Terry P. Laughlin | President of Strategic Initiatives
Terry Laughlin is president of Strategic Initiatives for Bank of America, and a member of the company’s executive management team. Laughlin is responsible for overseeing a number of businesses, teams and programs that help connect and simplify our businesses for customers and clients and improve delivery of our products.
These include Corporate Strategy, including the new companywide Simplify and Improve program, through which employees work to reduce complexity, simplify work flow and invest in the company’s operating platform; and the company’s market engagement activities, through which leaders representing all of the company’s various businesses in a given market or community work together to integrate the delivery of products and services for customers and clients. Laughlin also has responsibility for Legacy Asset Servicing, the group established to support mortgage customers in need of assistance, resolve legacy mortgage issues and reduce related operating costs; and MBNA Ltd, the company’s consumer credit card business in the U.K.
Previously, as chief risk officer of Bank of America, Laughlin was responsible for overseeing the company’s governance and strategy for global risk management, including relationships with key regulators and supervisory institutions worldwide. Prior to that, he established and led Bank of America Legacy Asset Servicing.
Before joining Bank of America, Laughlin was a member of the investor group that acquired IndyMac Savings Bank from the FDIC. Subsequent to the acquisition of IndyMac, it was renamed OneWest Bank and he served as president and chief executive officer of the bank, where he had overall responsibility for managing the company’s operating businesses and key risk and support functions and where he led the acquisition of various follow on FDIC-assisted acquisitions.
Laughlin’s experience also includes various senior leadership positions with Merrill Lynch, including serving as chairman and chief executive officer of Merrill Lynch Bank & Trust. At FleetBoston Financial, he served on the company’s management committee, led strategy and development and oversaw the international banking business including the firm’s market-leading franchise in Latin America.
Laughlin is a member of the board of the Depository Trust & Clearing Corporation as well as the board of trustees at the University of Pittsburgh and serves on its Executive, Investment and Institutional Advancement committees.