Most Powerful Women to Watch: Anne Clarke Wolff, Bank of America
Chairman, Global Corporate and Investment Banking, BofA Securities
After nine years running the global corporate banking and leasing businesses for Bank of America Merrill Lynch, Anne Clarke Wolff was promoted in March to chairman of global corporate and investment banking for the newly named BofA Securities. In her new role, Wolff is focused on working as a trusted adviser to some of BofA’s largest clients around the world.
The pandemic has interrupted prospecting for Wolff, who is normally an enthusiastic traveler. So she has been spending much of her time deepening relationships with existing clients and fine-tuning a program she started last year to provide education and guidance to women serving on boards of directors.
The first two events in 2019 were salon-style dinners with about 30 women. This year’s events, scheduled for the fall, will cover topics such as demystifying the path to the boardroom and managing liquidity in a financial crisis, Wolff said.
“Part of why I still love my job is that it ultimately goes back to, you have to love problem-solving with clients and you have to be incredibly curious,” said Wolff, who brings a diverse background to the task, including stints in investment banking, capital markets and derivatives.
All that experience came in handy when capital markets began seizing up at the onset of the coronavirus pandemic and clients immediately began to turn to BofA for balance sheet and liquidity solutions. Wolff and her team helped clients weather those difficult days by providing new loans and working with them on draw-downs, all while focusing on managing risk and appropriately allocating capital. The first quarter turned out to be the most active quarter for BofA’s corporate banking arm.
“It was probably one of the brightest moments in our industry in seeing that bankers do serve a purpose and that bankers do play a vital role for clients,” Wolff said.
For the first time, American Banker's Most Powerful Women in Banking celebration is open to the whole financial community. Join us virtually October 6-8 to hear our 2020 honorees' stories and experiences. Register here.