Otto joined BofA in 1977 and has held numerous lead positions in the organization.
Replacing Patricia MercurioIn, Otto will be responsible for the smooth functioning and development of BofA businesses in Missouri, allowing the company to reach more individuals, families and businesses while deepening relationships with existing customers, BofA said.
Additional responsibilities will include managing CSR initiate with the bank as well as philanthropic giving, community development lending and investing, environmental initiatives, diversity efforts, arts and culture projects, and employee volunteerism.
Otto will continue acting as Midwest regional executive for US Trust, Bank of America Private Wealth Management, where he oversees for teams of financial services professionals that deliver investments, trusts and banking advisory services to high net worth individuals and families across Arkansas, Kansas and Missouri.
Bank of America CEO Brian Moynihan said Larry has deep roots here in Missouri and extensive financial services experience.
"We’re pleased to have him take on this important leadership role to integrate our efforts and better serve Missouri customers and communities," Moynihan added.
