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BofA vice chairman, global wealth head dies at 63

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Bank of America said Terry Laughlin, vice chairman and head of global wealth and investment management, has died. He was 63.

Laughlin, who ran the bank’s $2.8 trillion wealth management business, formerly served as its chief risk officer, the bank said in a statement Friday. He was previously chief executive officer of OneWest Bank, and served on the boards of the Urban Institute and the Brooklyn Museum.

“Terry was a builder and a problem solver, and one of the finest individuals I’ve had the privilege to know and work alongside,” Bank of America CEO Brian Moynihan said in the statement. “His leadership on global wealth and investment management, helping to build a consolidated banking and wealth management business, is without a peer in our industry.”

Laughlin recently helped expand Bank of America’s presence in Pittsburgh, Moynihan said.

Bloomberg News