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Bank of America Names Cook President of Chicago, Lambert Retiring

December 17, 2021, 07:54 AM

Bank of America has named Rita Sola Cook as President of Bank of America Chicago. Cook succeeds Paul Lambert, who announced his retirement after 30 years with the company.

As Chicago president, Cook will be responsible for connecting the banking and investment resources offered through the bank’s eight lines of business to people and companies across Chicagoland. She will also lead the effort to deploy Bank of America’s resources to address social concerns, strengthen economic opportunity and build strong communities, as well as support the health, safety and engagement of local employees.

“Since joining Bank of America more than 20 years ago, Rita has held various leadership positions and established deep relationships with teammates, clients, and the Chicago community,” said Brian Moynihan, Bank of America Chairman and CEO. “Rita is perfectly positioned to build upon the legacy and impact that Paul has made in his three decades with Bank of America. I thank Paul for his leadership and wish him the very best in his future endeavors.”

Cook joined Bank of America in 1997 and was most recently named Division Executive for the Midwest and the Mid-Atlantic regions of The Private Bank. She is also the Anti-Money Laundering executive for Business Banking, Global Commercial Banking, Global Corporate & Investment Banking, Global Markets and Enterprise Credit. Prior to these roles, Cook held various leadership positions in Global Commercial Banking, Global Transaction Services, finance and product management where she gained diverse client segment and product expertise. She also served as the Market Integration Executive for Chicago from 2018 through 2020.

Lambert served as the President of Chicago since 2016. During his tenure, he strengthened the company’s leadership position throughout the city, working with key civic and nonprofit leaders to develop job pathways for those in underserved communities. He was a respected leader among employees in Chicago especially through the challenging times of the global pandemic. Lambert’s role as Merrill Division Executive will be taken on by Chandler Root. Root will relocate to Chicago from Charlotte.

Cook is active in the Chicago community and has been recognized for her leadership and contributions in the finance and banking industries by Crain’s Chicago Business, the Daily Herald Business Ledger and Crain’s Detroit Business. She serves on the board of directors for the Brookfield Zoo and the Detroit Automotive Hall of Fame and is actively engaged in military and veteran’s affairs. A graduate of Governors State University with a bachelor’s degree in Accounting, Cook is a Certified Treasury Professional (CTP) and is a Series 7, 24 and 63 licensed securities professional.

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