CHARLOTTE, N.C. - Bank of America Corp. announced Wednesday that it has promoted Donald Stewart to president and chief executive officer of its Canadian subsidiary.

Mr. Stewart, a native of Toronto, had been a managing director of corporate and investment banking for the subsidiary. He succeeds John Masters, who will move to San Francisco with Banc of America Securities as global industry manager for the paper and forest products group.

Mr. Masters will keep his seat on the board of directors at Bank of America Canada. Bank of America Canada has offices in Calgary, Montreal, Toronto, and Vancouver, and has $425.6 million of capital. Major business lines include corporate and investment banking, global markets, global treasury services, capital and leasing, business credit, and specialty finance.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.