BofA expands in Wisconsin as part of national growth strategy, plans to open eight financial centers in Milwaukee and Madison by 2025
MILWAUKEE, June 28, 2023 /PRNewswire/ -- Bank of America has named Bryant Shurn president of Bank of America Wisconsin. As president, Shurn will assume the responsibilities for connecting banking and investment resources offered through the bank's eight lines of business to people and companies across the state. He will also lead the effort to deploy Bank of America's resources to help advance economic mobility and build strong communities, as well as support the health, safety and engagement of local employees.
Shurn will support Bank of America's continued growth in Wisconsin, including the opening of eight new financial centers across the state by 2025, beginning with three Madison locations and five in Milwaukee. Longer term, the bank will continue its expansion, opening over 20 branches in Wisconsin. The expansion brings retail banking, lending and small business services to local clients, building on existing investing and personalized financial guidance from Merrill and the support it offers business through Business and Commercial Banking services. Bank of America currently serves 260,000 clients throughout Wisconsin who will now have more access to the company's full array of financial services.
"Bryant has established deep relationships with teammates and clients and the Wisconsin community," said Brian Moynihan, Bank of America chairman and CEO. "He is well positioned to grow our presence in Wisconsin and deliver the full breadth of Bank of America's capabilities to help our local clients improve their financial lives."
In addition to his responsibilities as president of Wisconsin, Shurn serves as market executive for Merrill Wealth Management. He joined Merrill in 2019. His breadth of experience includes time as a financial advisor and producing manager, compliance oversight manager, and divisional sales leader. In his role as president, Shurn will lead the nearly 200 employees in Wisconsin who are actively engaged in supporting their local community.
The retail entrance into Madison and Milwaukee reflects the company's continued growth and modernization efforts across its financial center and ATM network. It is part of the bank's recently announced plans to expand in nine new markets: Omaha, Neb.; Milwaukee, Wis.; Louisville, Ky.; Birmingham, Ala.; New Orleans, La.; Madison, Wis.; Boise, Idaho; Dayton, Oh.; and Huntsville, Ala.
The new financial centers will showcase the latest technology, private offices to assist clients one-on-one, and on-site specialists including financial solutions advisors, lending officers and small business bankers who work as one team to understand a client's unique priorities and goals and provide personalized guidance.
"Expanding our presence in states like Wisconsin allows us to continue to provide our clients with the capabilities and services they need to be successful," said Aron Levine, President of Preferred Banking at Bank of America. "Our goal is to continue to connect clients with financial specialists and deliver unique experiences focused on advice, education and best-in-class digital solutions that are tailored to meet the needs of each community and client."
By expanding its retail footprint in the area, Bank of America is building on the $93 million in loans to small businesses and $3.1 billion to commercial business clients.
Since 2018, Bank of America has invested more than $800,000 in Wisconsin through grants to local nonprofits, employee matching gifts and scholarship programs.
With the opening of the new financial centers over the next two years, Bank of America will create new jobs in Wisconsin ranging from entry level to specialty roles. Bank of America announced that it would raise its minimum wage to $25 an hour by 2025, up from $22 an hour today.
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 68 million consumer and small business clients with approximately 3,900 retail financial centers, approximately 15,000 ATMs 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 more than 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 and other important information, visit the Bank of America newsroom and register for news email alerts.
Reporters May Contact:
Diane Wagner, Bank of America
Phone: 1.312.992.2370
diane.wagner@bofa.com
Andy Aldridge, Bank of America
Phone: 1.980.387.0514
andrew.aldridge@bofa.com
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SOURCE Bank of America Corporation
