Bank of America Names Bill Carey to Lead Business Retirement Solutions

BOSTON, Sept. 19 /PRNewswire/ -- Bank of America today announced the appointment of Bill Carey as national executive of Business Retirement Solutions. In this role, Carey will oversee the development and delivery of 401(k), defined benefit and institutional custody solutions to clients across Bank of America. He will report to Cary Grace, Mid-Market Institutional executive within the newly formed Bank of America Retirement and Global Wealth & Investment Management (GWIM) Client Solutions Group.

Carey joins Bank of America from Fidelity Investments where he most recently led National Accounts for Fidelity Investments Institutional Services Company, which distributes the company's investment products, programs and services through a variety of financial institutions. In this position, Carey was responsible for institutional relationship management, registered investment advisor services, investment consulting services and consultant relations.

"Institutional retirement represents an area of significant opportunity and focus for Bank of America," said Cary Grace, Bank of America Mid-Market Institutional executive. "A seasoned veteran and leader in the retirement market, Bill will drive the expansion of capabilities used to deliver retirement solutions to business clients across the bank and accelerate our growth efforts in this dynamic market."

Carey joined Fidelity in 1993 in the company's corporate 401(k) division, Fidelity Institutional Retirement Services Company (FIRSCo), as national sales manager for FIRSCo's Emerging Corporate Market. In 2003, he was named president of FIRSCo and subsequently was named president of Fidelity Registered Investment Advisor Group, which provides wealth management, custody and brokerage services to registered investment advisors and third-party administrators. Earlier, Carey held numerous leadership positions in employee benefits and retirement services for Aetna, Inc.

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 57 million consumer and small business relationships with more than 5,700 retail banking offices, more than 17,000 ATMs and award-winning online banking with more than 22 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 80 percent of the Fortune Global 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange. http://www.bankofamerica.com/

CONTACT: John Yiannacopoulos, Bank of America, +1-212-819-5927,
john.yiannacopoulos@bankofamerica.com