Bank of America named Rita Sola Cook president of Chicago for the bank. Cook will succeed Paul Lambert, who plans to retire after 30 years with the company.
As Chicago president, Cook will be responsible for connecting the banking and investment resources offered through the bank’s eight lines of business to people and companies across Chicagoland. She will also lead the effort to deploy Bank of America’s resources to address social concerns, strengthen economic opportunity and build communities, as well as support the health, safety and engagement of local employees.
“Since joining Bank of America more than 20 years ago, Rita has held various leadership positions and established deep relationships with teammates, clients and the Chicago community,” Brian Moynihan, chairman and CEO of Bank of America, said. “Rita is perfectly positioned to build upon the legacy and impact that Paul has made in his three decades with Bank of America. I thank Paul for his leadership and wish him the very best in his future endeavors.”
Cook joined Bank of America in 1997 and was most recently named division executive for the Midwest and the Mid-Atlantic regions of Bank of America’s private bank. She is also the anti-money laundering executive for business banking, global commercial banking, global corporate and investment banking, global markets and enterprise credit. Prior to these roles, Cook held various leadership positions in global commercial banking, global transaction services, finance and product management, gaining client segment and product expertise. She also served as the market integration executive for Chicago from 2018 through 2020.
Cook has been recognized for her leadership and contributions in the finance and banking industries by Crain’s Chicago Business, the Daily Herald Business Ledger and Crain’s Detroit Business. She serves on the board of directors for the Brookfield Zoo and the Detroit Automotive Hall of Fame and is engaged in military and veteran’s affairs. Cook is a certified treasury professional and is a Series 7, 24 and 63 licensed securities professional.
Lambert has served as the president of Chicago for Bank of America since 2016. Lambert’s role as Merrill division executive will be taken on by Chandler Root. Root will relocate to Chicago from Charlotte, NC.
