Bank of America Corp. said that it has hired Claire Costello as its national executive for philanthropic management, a newly created position.
Ms. Costello was an independent consultant serving the philanthropic management needs of wealthy individuals and institutional clients. Previously she founded and directed the Philanthropic Advisory Services group for Citigroup Inc.'s private bank.
Ms. Costello will be based in New York for the Charlotte company and report to Eileen Wilhem, the managing director of Bank of America Philanthropic Management.
Her duties include enhancing the client experience, helping client teams, and providing customized services to affluent, wealthy, and ultrawealthy individuals as well as institutional clients.
Bank of America serves as grant-making agent, trustee, or co-trustee for more than 2,000 private foundations, and advises more than 10,000 clients nationwide. It announced Ms. Costello's hiring Wednesday.
