Bank of America Appoints Naveed Shujaat as President of Central Florida

Bank of America has announced the appointment of Naveed Shujaat as the new president of its Central Florida operations. Shujaat succeeds Steve Alch, who is stepping away from the role after nearly a decade in order to concentrate on his leadership position as the Executive of Merrill’s Southeast Division.

Shujaat, a seasoned financial executive, joined Bank of America in 2006 and has held several significant positions. Before being named president, he served as the Private Bank market executive leading a team in Tampa Bay, Orlando, and Space Coast. His new position entails leveraging the bank’s resources to drive economic mobility and community development in the region.

Shujaat has been recognized for his strong dedication to employee engagement. He is a member of two employee networks, namely the Asian Leadership Network and the Hispanic/Latino Organization for Leadership and Advancement. He also actively volunteers with Feeding the Homeless and the Second Harvest Food Bank, and serves on the board of a local school.

Steve Alch leaves a legacy of community investment behind him. During his tenure, he oversaw the distribution of over $3 million to 15 Neighborhood Builders grant winners and a total of $10 million to nonprofit organizations serving Central Florida.

In a statement, Brian Moynihan, CEO of Bank of America, lauded Alch for his contributions and expressed optimism over Shujaat’s appointment. “Steve has had a tremendous impact… over the last nine years,” said Moynihan. “We thank him for his leadership and look forward to continued growth and success with Naveed becoming the next Central Florida president.”

Alch expressed gratitude for his time with Bank of America, stating, “It has been a privilege to serve and represent Bank of America for nearly a decade across this great region… As we continue that work, I am eager to support Naveed and ensure a smooth, successful transition in Central Florida.”

Source: Press Release