While Bank of America continues its search for an executive to head its credit card business, the board of directors has named Stephen B. Galasso executive vice president of credit card marketing.
Mr. Galasso has been in charge of card marketing at the bank's credit card center in Phoenix since 1992, when he joined the BankAmerica Corp. unit.
The San Francisco-based bank is the eighth-largest credit card issuer, with $8.6 billion in outstanding loans.
Mr. Galasso's promotion from senior vice president recognizes his achievements in launching new products, said a spokeswoman.
The top card position has been vacant since last April, when Robert D. Sznewajs became executive vice president at U.S. Bancorp in Portland, Ore.
James G. Jones, group executive vice president of consumer credit, is serving as acting card chief until a replacement for Mr. Sznewajs is selected.
Mr. Galasso reports to Mr. Jones.
In the two years he has been with the bank, Mr. Galasso has launched a secured card product, a photo card, and a cobranded gas card.
Last September, Bank of America teamed up with the Sun Co., which markets gasoline under the Sunoco brand.
Bank of America issues credit cards primarily in 10 Western states, but the Sunoco card is expected to extend the issuer's reach into the Northeast and Ohio, Michigan, and Indiana.
The bank's secured product, after debuting nearly a year ago in Arizona, has spread to six states.
Mr. Galasso has focused primarily on new products, said a spokeswoman, who added that during his tenure card account growth has remained steady.
Prior to joining Bank of America, Mr. Galasso was the marketing director of communications, strategic planning, and new products for Citibank's credit card business in New York.
