As market president, Mr Sherman will serve as the senior executive for business, civic and philanthropic activities for Bank of America in Sarasota, Manatee, Charlotte, Desoto, Highlands and Glades counties. Along with members of the Florida leadership team, Mr Sherman will facilitate communication and integration among the company’s local business lines and strive to continuously improve customer experience, grow revenue in the region and represent Bank of America in the community.

Mr Sherman succeeds Doug DiVirgilio, Southeast division executive for US Trust, Bank of America private wealth management. Mr DiVirgilio will focus on his expanded line of business responsibilities.

Susan Walker, president of Bank of America Florida operations, said: Mr Doug is an experienced banker who will be an effective champion for business growth, community investment and neighborhood vitality in the West Central region. This is an important market for Bank of America and we are fortunate to have such a strong, proven leader like Mr Doug heading our team locally.