PROVIDENCE – Bank of America Corp. has named Kevin Tracy the new leader of its Rhode Island market, according to an announcement Wednesday.
Tracy will succeed the bank’s longtime Rhode Island senior executive, William F. Hatfield, who announced his retirement in May via Twitter. Like Hatfield, who worked for the company for 40 years, Tracy also has a long history with the bank, starting under Fleet National Bank – which was later acquired by Bank of America – in 1985 as a management trainee.
Tracy has held numerous client manager positions during his 35-year tenure with the company, rising to the rank of business banking market executive in 2006, where he managed a team of bankers responsible for all aspects of business services for companies with annual revenues from $5 to over $50 million.
Tracy was also named as a recipient of Providence Business News’ 2020 Leaders & Achievers Awards, recognized in part for his work helping Rhode Island small businesses with the $160 million in Paycheck Protection Program loans the bank doled out in 2020.
As the new leader for the Rhode Island market, Tracy will be responsible for managing and growing the company’s $8.6 billion in in-market deposits in Rhode Island, capturing nearly 23% of the state’s market share. The bank operates 29 branches in Rhode Island and Bristol County, Mass., according to PBN’s 2021 Book of Lists.
A Brown University graduate with a degree in economics, Tracy has also played a prominent role in the education and business communities, serving as the university treasurer and on the board of the university Alumni Club of Rhode Island. He has previously chaired boards for the Northern Rhode Island Chamber of Commerce and Junior Achievement of Rhode Island. He is a multi-year winner of the bank’s Pinnacle Award, a Junior Achievement of Rhode Island Profile in Excellence 2019 honoree, and a 2004 Leadership Rhode Island alumnus.
Hatfield is slated to retire in July.
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.
