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Tuesday, Mar 19, 2024
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Bank of America’s premier banking chief headed to Newport Beach

In line with its recent streamlining, Bank of America is moving its top executive in Orange County, Kim Burdick, to the bank’s existing offices in Newport Center.

“It puts me in a place that works more easily for our other lines of businesses,” Burdick said. Burdick said he wanted to be closer to the bank’s Newport Beach private banking operations, which offer trust fund and other services to wealthy clients. Burdick’s current office is in Orange and a few employees will be making the move with him. Four employees from the bank’s Brea and Long Beach offices also will join Burdick in Newport Beach.

“You want to have your resources close to you,” Burdick said.

But Burdick insists it is not a consolidation.

“We’re going to continue to have operations here (in Orange),” Burdick said.

The change comes after Bank of America consolidated its premier banking operations in California and placed Kim Burdick in charge of the unit.

Burdick oversees 450 employees and 200,000 accounts that have balances of at least $100,000. The premier banking division is the fastest-growing segment of the bank, Burdick said. The division holds $14 billion in deposits and $15 billion in assets, according to Burdick.

Burdick had headed the bank’s premier banking division for Southern California since 1998. n

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