• Brandweek, Thursday, March 16, 2006 11:47 AM

A former advertising agency executive has been named CMO at Bank of America and will now oversee the company's $600 million marketing budget. The bank announced Wednesday that Anne Finucane will become head of BofA's global marketing and corporate affairs, succeeding Cathy Bessant, who had served in that role since 2002. Bessant is becoming the company's head of global treasury services. In her new role, Finucane will be responsible for all of BofA's advertising, brand management and sponsorships. She is a former executive at Interpublic Group of Companies' Hill, Holliday, Connors, Cosmopulos in Boston. Last year under Bessant, BofA's ad account was shifted from a group of IPG agencies to a team of shops from Omnicom Group. Hill Holliday had handled the FleetBoston account prior to its absorption by BofA. Bruce Nelson, the executive who ran BofA at IPG and whose departure at least in part precipitated the review, last week joined Omnicom as vice chairman, but he will not work on BofA.

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