Bank of America is going full steam ahead on its plans to hire 1,000 small-business bankers across the country. The bank has also promoted Raj Kochhar internally to lead its small-business banking efforts in the Northeast.
Bank of America announced today that it's hired more than 75 small-business bankers in the mid-Atlantic region, which includes Baltimore, Washington, D.C., Philadelphia and southern New Jersey. This region was among the first where BofA focused its hiring, alongside Dallas and the greater Los Angeles area.
There are still hundreds of positions still up for grabs. The bank has hired 110 bankers in the greater Los Angeles area, with plans to hire 70 more in Southern California. Nationwide, 185 slots have been filled, leaving around 800 left, a BofA spokesperson confirmed.
BofA is hiring small-business bankers as a way to capitalize on what it sees as the rebounding of small businesses after the recession. Boston and New York are the next targets for hiring, which will take place over this quarter and next, the spokesperson said.
The bank also announced the appointment of Kochhar as small business banker regional executive for the Northeast. In the newly created role, Kochhar will oversee the sales force across the Northeast and lead the hiring effort. He's been with the bank for 16 years, most recently as the senior vice president and consumer market executive for the south beltway part of the mid-Atlantic region. In this capacity, he was responsible for 39 banking centers in Virginia and Maryland.
Write to Julie Steinberg