CHARLOTTE, N.C. - Holly D. Deem, a seven-year veteran of Bank of America Corp., has been named president of the company's private banking division.Ms. Deem was president of TradeStreet Investment Associates Inc., a Bank of America subsidiary, since 1998. As head of private banking, she will oversee 250 domestic and international private bank portfolio managers. The unit has $120 billion of assets under management.
Bank of America said in November that it was combining its asset management operations - which include the private bank - under a single name, Banc of America Capital Management. The move consolidated operations that the company acquired through various acquisitions, including Boatmen's Capital Management, Sovran Capital Management, and TradeStreet.