Sunil Chandra's job will be to guide the fintech's international expansion. It says 12 banks are using its small-business lending platform, including three in the United States.
Incoming CEO Charles Scharf will remain in New York even though the bank's headquarters is in San Francisco. His hiring underscores the diminished importance of geographical proximity for executives at large banks.
The transition to Stein from Hadley Robbins is the result of a multiyear succession process, the Tacoma, Wash., company said. Robbins had succeeded the late Melanie Dressel.
Cathy Bessant, BofA’s chief operations officer, is the Most Powerful Woman in Banking; 6 standout fintechs at Finovate 2019; the Citi CEO says gender pay gap is ‘a challenge we need to tackle together’; and more from this week’s most-read stories.
