Bank of America’s Anne Finucane, vice chair, and Thomas Montag, chief operating officer and head of global banking and markets, will retire at the end of this year, the bank announced Thursday.

Montag and Finucane “have been instrumental in Bank of America’s success, especially during the decade following the financial crisis,” the bank stated in a release. The $3.02 trillion bank will announce successors in the coming weeks.

Finucane joined Bank of America’s predecessor company, Fleet Bank, 26 years ago, serving as chief marketing officer followed by 10 years in the same role for Bank of America. She is the first woman vice chair of Bank of America and the first woman chair of the board of Bank of America Europe, the company’s European banking subsidiary based in Ireland.

Following her retirement, Finucane will transition to a non-executive chairman role at Bank of America Europe as well as a non-executive board member role on BofA Securities Europe. She will also become a member of the company’s Global Advisory Council.

Montag joined Bank of America in 2008 as executive vice president and head of global sales and trading at Merrill Lynch prior to the company’s merger with Bank of America. Prior to that, he spent 22 years with Goldman Sachs, where he became the head of global securities business and a member of the company’s management committee.

Montag served as the chief operating officer and head of global banking. He was responsible for the businesses that serve companies and institutional investors, including middle-market commercial, large corporate clients, and institutional investor clients. He also oversaw Bank of America Global Research and the global markets sales and trading businesses.

He, too, will join the bank’s global advisory council upon retirement.

Whoever replaces Finucane and Montag would be added to the succession list to replace Chief Executive Officer Brian Moynihan, who turns 62 in October.

King, Rogers step up at Truist Bank

Truist CEO Kelly King will become executive chair of the board of directors in September, while President and Chief Operating Officer Bill Rogers will take on the role of chief executive officer. The restructuring is a result of the merger of BB&T and SunTrust, announced in 2019, that formed the $522 billion Truist Financial Corporation.

King will transition to the role of executive chairman of the board of directors of Truist Financial Corporation effective through March 12, 2022.

Rogers previously served as CEO and chair of SunTrust for eight years.

“As we complete the final stages of Truist’s integration in the months ahead, we’re driving the strategies and trajectory of Truist, especially advancing our client-centered digital strategies,” Rogers said in a release.

As part of the announcement, Rogers revealed his executive leadership team, which will include Scott Case as chief information Officer and Daryl Bible as chief financial officer. Also joining the executive team are: Beau Cummins as vice chair; Ellen M. Fitzsimmons as chief legal officer and head of public affairs; John Howard as the chief insurance officer; Mike Maguire as chief national consumer finance services and payments officer; Kimberly Moore-Wright as chief teammate officer and head of enterprise diversity; Brant Standridge as chief retail community banking officer; Clarke Starnes III as chief risk officer; Joseph Thompson as chief wealth officer; David Weaver as chief commercial community banking officer, and Donta Wilson as chief digital and client experience officer. Amy Collins will be named chief of staff to work alongside Rogers and the executive leadership team.

Truist is combining its Banking Operations and Corporate & Institutional Group Operations to create a new center of excellence – Enterprise Operations and Global Services – which will be under the digital, client experience, analytics and marketing (DCAM) organization. As a result of that restructuring, Raj Bharadwaj will become executive vice president and head of enterprise operations.

Fintechs appoint new chief technology officers

Monit, a mobile financial platform for small businesses, hired Rian Stockbower as its first chief technology officer.

Stockbower led the implementation and team build in First Republic Bank’s internal banking platform before overseeing the engineering team at CareStack, a dental practice management startup. He also helped create software for Vistaprint’s manufacturing operating system.

At Monit, Stockbower will be responsible for building out the in-house tech team, optimizing the delivery model, and leading integrations with the company’s banking customers.

Fintech AffiniPay, which supports online credit card transactions for professional trade associations, appointed Bryan Thompson to its newly created CTO role. Thompson previously spent three years as the CTO for Beyond Inc., a provider of business services for small- and mid-sized merchants, where he oversaw the launch of in-person, online and mobile payment solutions. He also served as CTO for payments processor Heartland Payment Systems, where he led a team of more than 400 technology professionals.

The Bank Automation News webinar on automation technology for exceptional bank cybersecurity and ID verification takes place on Thursday, Sept. 9, at 11:30 a.m. ET. Register here. Attendees will be able to ask questions via chat.