Terry LaughlinDownload Biography
Terry Laughlin | Vice Chairman
Terry Laughlin is vice chairman of Bank of America, and a member of the company’s executive management team. His responsibilities include oversight of the company’s annual Comprehensive Capital and Review (CCAR) submission and Global Resolution and Recovery Planning (GRRP) into 2016, as well as MBNA Ltd, the company’s consumer credit card business in the U.K.
In the fourth quarter of 2015, Laughlin will assume responsibility for the company’s Global Wealth and Investment Management division, which includes Merrill Lynch Wealth Management and U.S. Trust. Together, the wealth management businesses are among the largest in the world with $2.5 trillion in total client balances and nearly 17,000 Wealth Advisors.
Previously, Laughlin was president of Strategic Initiatives for Bank of America, responsible for Global Corporate Strategy and the company’s market engagement activities. He also established and had responsibility for Legacy Asset Servicing, the group created to support mortgage customers in need of assistance and to resolve legacy mortgage issues, and served as the chief risk officer of Bank of America, responsible for overseeing the company’s governance and strategy for global risk management.
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 chief executive officer and president of the bank. Laughlin’s experience also includes various senior leadership positions with Merrill Lynch, including chairman and chief executive officer of Merrill Lynch Bank & Trust, and FleetBoston Financial, where he served on the company’s management committee, led strategy and development and oversaw the international banking business, including the market-leading franchise in Latin America.
Laughlin is a member of the board of the Depository Trust & Clearing Corporation, Bank of America Merchant Services (a joint venture with First Data Corporation) and the Urban Institute, as well as the board of trustees at the University of Pittsburgh where he serves on its executive, investment, and institutional advancement committees.