BofA said that Statsick will co-operate the company’s leaders across the state to provide a wide spectrum of global financial services to more individuals and businesses locally as well as strengthen relationships with existing customers.

Additionally, he will manage CSR works of the bank such as charitable activities, community development lending and investing, environmental initiatives, diversity efforts, arts and culture projects, and employee volunteerism.

Bank of America CEO Brian Moynihan said the bank is pleased to have Dan join the team and lead its work of serving customers and clients in Minnesota.

"Dan brings tremendous experience in financial services to this important leadership role as well as a dedication to serving the community," Moynihan added.

Apart from working as state president, Statsick also acts as a market director for the US trust in Minneapolis, and manages client service teams, overseeing relationship management, business development and related activities for the market.