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Bank of America (NYSE:BAC) announced that Chief Technology and Information Officer Aditya Bhasin will retire after more than 20 years at the bank. He will be succeeded by Hari Gopalkrishnan, according to an internal memo seen by Reuters.
Bhasin, a member of the bank’s executive management team, has held key leadership roles in technology, marketing, and other areas. Following his retirement, he plans to advise and invest in mid-sized companies, leveraging his decades of expertise in financial technology and innovation.
Gopalkrishnan, who joined Bank of America in 2011 from Citigroup (NYSE:C), has extensive experience in managing large-scale technology initiatives. His appointment underscores the bank’s continued focus on digital transformation and innovation to meet evolving client needs.
Bank of America has significantly increased technology investments in recent years, with more than 59 million active digital users and over 7,800 patents filed. A key milestone in its digital strategy is the AI-driven virtual assistant Erica, launched in 2018, which has facilitated more than three billion client interactions to date.
The leadership transition highlights Bank of America’s push to enhance customer experience through artificial intelligence, mobile banking, and digital solutions. As the financial industry rapidly adopts emerging technologies, Gopalkrishnan is expected to play a central role in advancing the bank’s competitive edge in digital banking and fintech innovation.
This change comes amid broader industry trends where major banks are prioritizing AI, mobile services, and secure digital platforms to serve a growing online customer base and drive long-term growth.
