John Kerry named chair of Bank of America advisory council

Bank of America said former U.S. Secretary of State John Kerry has been named chair of the Charlotte-based bank’s Global Advisory Council.

The council, made of leaders around the globe such as France’s former finance minister, offers advice to Bank of America senior executives on matters such as the company’s global strategy. The 14-member group was founded in 2013.

Kerry, a former Massachusetts senator, ran unsuccessfully as a Democratic presidential candidate in 2004 against incumbent George Bush. He later served as the nation’s top diplomat under former President Barack Obama.

In a statement this week, Bank of America CEO Brian Moynihan said Kerry’s insights into global affairs will be of great value to the council “as we focus on a rapidly changing world.”

Kerry, in a statement, said the council will seek to help the bank with developments that “will define the future we share as a world-wide community.” Kerry said it was “an incredibly dynamic time of transition and even turmoil around the world, all of it happening at a digital pace, and Brian Moynihan has made it clear he wants to stay ahead of the curve.”

In February, Yale University named Kerry its first ever distinguished fellow for global affairs. Kerry also serves as visiting distinguished statesman at the Carnegie Endowment for International Peace.

According to the bank, the Global Advisory Council’s other roles include providing insight and perspective on local market opportunities and trends, as well as assisting the bank with its relationships and opportunities around the world.

Moynihan also serves on the council, whose other members include business, academic and public policy leaders.

This story was originally published October 5, 2017 at 1:52 PM with the headline "John Kerry named chair of Bank of America advisory council."