BofA Names Ed Siaje President of Detroit

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Bank of America (BAC) has appointed Ed Siaje as president of Bank of America Detroit, succeeding Matt Elliott who recently retired. Siaje, who will continue his role as Private Bank market executive for Michigan and Minnesota, brings 26 years of financial services experience. He will be responsible for connecting clients, teammates and communities across the bank's eight lines of business, while focusing on market share growth and economic mobility initiatives. Previously, he managed strategy and operations for over 280 financial centers and currently leads a team serving high-net-worth clients and institutional nonprofits.

Private Bank market executive for Michigan and Minnesota, will also oversee the bank's efforts to grow market share

DETROIT, Nov. 20, 2024 /PRNewswire/ -- Bank of America has named Ed Siaje president of Bank of America Detroit. As president and head of the market, he will connect clients, teammates and communities to the full power of the franchise and drive integration across the bank's eight lines of business. He succeeds Matt Elliott, who recently retired from the company.

Siaje will also oversee the bank's efforts to grow market share and lead the effort to deploy the bank's resources to help advance economic mobility and build strong communities. Siaje will continue to serve as Private Bank market executive for Michigan and Minnesota.

"Throughout his career with Bank of America, Ed  has established deep relationships with teammates, clients and the community to deliver responsible growth," said Brian Moynihan, Bank of America chairman and chief executive officer. "Ed is well positioned to build on Matt's legacy and continue to grow our presence, particularly in Michigan, as we deliver the full breadth of Bank of America's capabilities to help our local clients improve their financial lives."

Siaje has 26 years of experience in financial services, and currently leads a team of dedicated specialists who provide integrated advice and guidance to high-net-worth clients and institutional nonprofits. Prior to this role, he served as a Consumer area executive where he was responsible for strategy, service and operations across more than 280 financial centers. He's held numerous positions within financial center leadership with regional and national banks throughout the Midwest. 

A native of Southeast Michigan, Ed is passionate about driving local economic growth and opportunity. He serves as chair of the United Way of Southeastern Michigan Board of Directors and has been active with the Arab Community Center for Economic and Social Services (ACCESS), Southwest Detroit Business Association and Focus Hope. He lives in Dearborn with his wife and three children.

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 69 million consumer and small business clients with approximately 3,700 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 58 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 4 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 is listed on the New York Stock Exchange (NYSE: BAC).

Reporters may contact
Naomi R. Patton, Bank of America
Phone: 646.855.4266
naomi.patton@bofa.com

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SOURCE Bank of America Corporation

FAQ

Who is the new Bank of America Detroit president in 2024?

Ed Siaje has been appointed as the new president of Bank of America Detroit in 2024, succeeding Matt Elliott who recently retired.

What is Ed Siaje's background at Bank of America (BAC)?

Ed Siaje has 26 years of financial services experience and serves as Private Bank market executive for Michigan and Minnesota. He previously managed operations across more than 280 financial centers.

What will be Ed Siaje's responsibilities as BAC Detroit president?

As president, Siaje will connect clients, teammates and communities across eight business lines, oversee market share growth, and lead efforts to deploy bank resources for economic mobility initiatives.

How many retail financial centers does Bank of America (BAC) operate in 2024?

Bank of America operates approximately 3,700 retail financial centers and 15,000 ATMs, serving about 69 million consumer and small business clients.