Bank of America Corp. said yesterday that it has named Laura L. Gamble president of its Maryland operations.
Gamble, 38, replaces William R. Lorenz, who has been promoted to head the company's commercial banking operations in the Southwest and will move to Dallas next month. Lorenz was named to the Maryland post in March.
As head of Maryland operations, Gamble will lead the management team in a number of business and community activities.
"I feel very strongly tied to Maryland and Baltimore," said Gamble, who has lived in the city since 1988. "I really look at this [as an opportunity] to get the efforts of our associates in our community into the spotlight."
Gamble will continue to head the company's Middle Market Treasury Management division, which works with mid-size companies to improve their day-to-day cash management and working capital operations. The division covers Washington, Maryland and five other states and has 90 employees.
Gamble reports to John Morton III, who is president of Bank of America's mid-Atlantic region and who is based in Baltimore.
Bank of America is the result of the merger in 1998 of NationsBank Corp. of Charlotte, N.C., and BankAmerica Corp. of San Francisco. In 1993, NationsBank acquired troubled MNC Financial Inc., the Baltimore parent of Maryland National Bank, and eliminated more than 1,000 employees.
Bank of America, the country's No. 3 banking company, holds the largest share of deposits in Maryland with $10.4 billion, or 15.51 percent of the market as of June 30, according to the Federal Deposit Insurance Corp.'s latest numbers. It ranks second in the Baltimore metropolitan area with $5.7 billion, or 17 percent of the market.
Gamble began her banking career in 1985 as a management trainee in the commercial credit department of NCNB Corp., the predecessor bank to NationsBank.
Three years later, she joined MNC Financial, and in 1993 she began working in its treasury management division. Last year, Gamble was named Middle Market Treasury Management executive.