Bank of America has announced the death of Terrence P. Laughlin, vice chairman and head of Global Wealth and Investment Management. He was 63 years old.
''Terry was a builder and a problem solver, and one of the finest individuals I’ve had the privilege to know and work alongside,” said Chief Executive Officer Brian Moynihan. “His leadership on Global Wealth and Investment Management, helping to build a consolidated banking and wealth management business, is without a peer in our industry. Recently, he helped expand our company’s presence in Pittsburgh, his beloved city where he is so well-admired and respected.”
Laughlin previously served as Bank of America’s chief risk officer. He also led the company’s Legacy Asset Servicing group.
“Terry was instrumental in helping our company recover from the crisis and get us to where we are today, the world’s best bank,” Moynihan added.
“Terry was a gifted leader who cared deeply about the world in which we live,” said Jack Bovender, Bank of America’s lead independent director. “Just this month, he convened a blue-ribbon panel of experts in New York to consider ways that the private sector can address the impacts of climate change on urban communities. That is just one example of how Terry committed himself to solving our toughest issues.”
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.
Laughlin was a member of the board of the Urban Institute and the Brooklyn Museum.
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