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Bank of America announced today that Larry Otto has been named to the additional leadership roles of Missouri state president and St. Louis market president. A native who has called Missouri home for most of his life, Otto has been with the company since joining a predecessor institution in 1977. Otto replaces Patricia Mercurio who was named St. Louis president in 2000 and state president in 2001. Mercurio will retire in October.
As state president, Otto will help integrate Bank of America business lines throughout Missouri, allowing the company to reach more individuals, families and businesses while deepening relationships with existing customers. He will also oversee corporate social responsibility activities including philanthropic giving, community development lending and investing, environmental initiatives, diversity efforts, arts and culture projects, and employee volunteerism.
“Larry has deep roots here in Missouri and extensive financial services experience,” said Brian T. Moynihan, CEO Bank of America. “We’re pleased to have him take on this important leadership role to integrate our efforts and better serve Missouri customers and communities."
In addition to his responsibilities as state and market president, Otto is Midwest regional executive for U.S. Trust, Bank of America Private Wealth Management. In that capacity, he is responsible for teams of financial services professionals that deliver investments, trusts and banking advisory services to high net worth individuals and families across Arkansas, Kansas and Missouri.
Otto, a Duke University alumnus, resides in Clayton with his wife, Jill. He is active in the community and involved in numerous St. Louis area nonprofit organizations including the Contemporary Art Museum, CharacterPlus, the Donald Danforth Plant Science Center, the Sheldon Arts Foundation and the St. Louis Public Library Foundation.
Last year, Bank of America employees in Missouri volunteered more than 31,800 hours to local nonprofits and continue to be significant players in major philanthropic initiatives, including the United Way campaign. More than $4,630,000 in 2011 statewide philanthropic giving helped nonprofit community organizations develop and grow, including those that provide basic human services such as hunger relief, housing assistance and access to healthcare.
Bank of America
Bank of America is one of the world's largest 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 56 million consumer and small business relationships with approximately 5,600 retail banking offices and approximately 16,200 ATMs and award-winning online banking with 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in 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 owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
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