MILAN, Jan 28 - Bank of America has elevated Vito Lo Piccolo to the position of country executive for Italy, according to an internal memo circulated on Wednesday. Lo Piccolo succeeds Nino Mattarella, who is retiring from the firm.
Lo Piccolo will be stationed in Milan and charged with overseeing the delivery of the bank's services across Italy while supporting the expansion of its local franchise. He will report directly to Bernie Mensah, President of International, who signed the memo appointing him.
Prior to this promotion, Lo Piccolo served as head of investment banking for Italy. He joined Bank of America in 2021 and will take on the broader responsibilities of coordinating the bank's activities in the country.
Lo Piccolo's professional experience stretches back more than 25 years in banking. He began his career at Merrill Lynch and later took on the role of deputy general manager at the Italian state investor Cassa Depositi e Prestiti, where his portfolio included oversight of indirect investments and asset management businesses.
The bank said Mattarella will work alongside Lo Piccolo during a handover period. Bernie Mensah also indicated that the bank will announce a new head of investment banking for Italy in due course, leaving the timing and identity of that appointment to be confirmed by the firm.
The internal memo and the planned transition reflect Bank of America's formal succession arrangements for its Italian operations. The firm has positioned Lo Piccolo to combine his investment banking background with responsibilities for the broader delivery and growth of the bank's services in Italy.
Background and operational notes
- Appointment communicated via internal memo signed by Bernie Mensah.
- Lo Piccolo will be Milan-based and will take on oversight of the bank's Italian franchise.
- Mattarella will remain involved for a transition period; a successor for Italy's head of investment banking will be announced later.
The announcement outlines a managed transition in leadership for Bank of America's Italian business, with responsibilities shifting from a long-serving executive who is retiring to a senior banker with extensive experience in both private and public sector financial roles.