Bank Watch

Bank of America consumer exec relocates to San Francisco from Charlotte

Bank of America confirmed Friday that Thong Nguyen, co-head of consumer banking, is relocating from Charlotte to San Francisco. The move comes as the bank seeks to strengthen its relationships with tech companies, at a time when banks everywhere aim to stand out in the increasingly competitive mobile payments industry.
Bank of America confirmed Friday that Thong Nguyen, co-head of consumer banking, is relocating from Charlotte to San Francisco. The move comes as the bank seeks to strengthen its relationships with tech companies, at a time when banks everywhere aim to stand out in the increasingly competitive mobile payments industry. AP

One of Bank of America’s top consumer bank executives is now based in San Francisco, the Charlotte company confirmed Friday.

Thong Nguyen has moved to the West Coast to be closer to Silicon Valley firms, as Bank of America pushes to improve its mobile payments technology.

Bank of America is seeking to strengthen its relationships with tech companies and forge new partnerships, a bank spokesperson said.

Nguyen will remain co-head of consumer banking, a role he still splits with Boston-based Dean Athanasia, the bank said. In San Francisco, Nguyen has taken on a newly created position at the bank, enterprise payments executive.

The move shifts one of CEO Brian Moynihan’s top lieutenants out of Charlotte, which is now base for four of his direct reports. Nine other direct reports are based in other U.S. cities.

Moynihan has continued to live in Boston but work in Charlotte since taking over in 2010.

Bank of America employs roughly 15,000 in Charlotte.

Deon Roberts: 704-358-5248, @DeonERoberts

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