Alastair Borthwick
Summary
Alastair Borthwick is Bank of America’s Executive Vice President and Chief Financial Officer, having become CFO in 2021 after leading the company’s Global Commercial Banking business. ([newsroom.bankofamerica.com](https://newsroom.bankofamerica.com/content/newsroom/executive-bios/alastair-borthwick.html))
Biography
Borthwick became Bank of America’s CFO in 2021 and is responsible for accounting, balance-sheet management, financial planning and analysis, corporate treasury, investor relations, corporate investments, tax, and global real estate. Before taking the finance role, he served as president of Global Commercial Banking beginning in 2012. ([newsroom.bankofamerica.com](https://newsroom.bankofamerica.com/content/newsroom/executive-bios/alastair-borthwick.html)) Earlier in his Bank of America career, Borthwick was co-head of Global Capital Markets and head of Global Investment Grade Debt Capital Markets. He joined Bank of America in 2005 after spending 12 years at Goldman Sachs, giving him experience across commercial banking, debt markets, capital markets, and corporate finance. ([newsroom.bankofamerica.com](https://newsroom.bankofamerica.com/content/newsroom/executive-bios/alastair-borthwick.html))
Notable achievements
- Built senior operating experience by leading Global Commercial Banking, which serves middle-market, real-estate, healthcare, education, nonprofit, and dealer-finance clients. ([newsroom.bankofamerica.com](https://newsroom.bankofamerica.com/content/newsroom/executive-bios/alastair-borthwick.html))
- Previously helped oversee equity capital markets, investment-grade debt, leveraged finance, and rates-and-currencies origination as co-head of Global Capital Markets. ([newsroom.bankofamerica.com](https://newsroom.bankofamerica.com/content/newsroom/executive-bios/alastair-borthwick.html))
- As CFO, oversees the financial-management functions supporting Bank of America’s diversified business model, including treasury, investor relations, tax, and balance-sheet management. ([newsroom.bankofamerica.com](https://newsroom.bankofamerica.com/content/newsroom/executive-bios/alastair-borthwick.html))
- During his tenure as CFO, Bank of America reported $27.1 billion of net income in 2024 and $60.1 billion of net interest income in 2025. ([sec.gov](https://www.sec.gov/Archives/edgar/data/70858/000119312525062653/d897280ddefa14a.htm?utm_source=openai))
Problem areas / controversies
- There is little public reporting of personal controversies involving Borthwick; most documented issues concern Bank of America or its subsidiaries rather than an individual finding against him.
- He has held the CFO role during continuing remediation of Bank of America’s regulatory-control issues, including a 2024 OCC order citing deficiencies in BSA, anti-money-laundering, sanctions, governance, and suspicious-activity-reporting programs. ([occ.gov](https://www.occ.gov/news-issuances/news-releases/2024/nr-occ-2024-140.html?utm_source=openai))
- In June 2026, the SEC announced a $7.5 million settlement with Merrill Lynch over failures to file suspicious-activity reports during April 2020 through September 2024; the SEC said Merrill relied on Bank of America’s enterprise-wide anti-money-laundering program, but the order did not accuse Borthwick personally. ([sec.gov](https://www.sec.gov/enforcement-litigation/administrative-proceedings/34-105790-s?utm_source=openai))
- Bank of America’s finance leadership also faces the practical challenge of balancing capital returns and earnings performance with higher compliance, technology, and control-investment requirements.