BofA Promotes Dee Sawyer to Head 401(k) Product-Management Unit

Bank of America Corp. (BAC), the largest U.S. bank by assets, promoted Dee Sawyer to head a unit managing 401(k) offerings in its retirement-services division.

Sawyer joined Bank of America in October as a director of strategy and business development in the Charlotte, North Carolina-based lender’s Merrill Lynch retirement business, according to a memo from Stephen Ulian, head of institutional retirement solutions. Sawyer, who previously spent 15 years at Fidelity Investments, will assume her new role on Aug. 8, Ulian said today in the memo to employees of the division.

“This appointment comes at a critical time, as corporations increasingly turn to 401(k)s as one of the, if not the, primary retirement benefit plans they offer to their employees,” Ulian said in the memo.

To contact the reporters on this story: Hugh Son in New York at hson1@bloomberg.net

To contact the editor responsible for this story: at dscheer@bloomberg.net.

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