- Craig Froelich is the bank’s first-ever CIO of architecture, developer experience, and policy.
- Kristopher Fador is Bank of America’s new chief information security officer, succeeding Froelich.
- Froelich and Fador both report to Aditya Bhasin, who took on BofA’s CIO role in 2022.
There’s a shake-up at the upper echelon of Bank of America’s tech leadership that will see a longtime exec take on a new position at the bank, Insider has learned.
Craig Froelich is taking the helm as the chief information officer of architecture, developer experience, and policy, a newly created role at Bank of America. Froelich previously served as chief information security officer for the nation’s second-largest bank, a role he held for more than eight years.
“I’m excited to announce I’ll be taking on a new role as CIO, focusing on modernizing and improving the experiences of our Global Technology team,” Froelich wrote in a LinkedIn post on Friday.
In his new remit, Froelich will oversee enterprise architecture and engineering excellence.
Succeeding Froelich in the CISO role is longtime Bank of America vet Kristopher Fador, who has held a range of roles across the bank since joining in 2010.
Fador is no stranger to the information security team at Bank of America. He previously reported directly to Froelich as deputy CISO and head of cyber security operations. He also spent time in Hong Kong for BofA, leading regional information security teams, according to his LinkedIn.
Fador will now report directly to Aditya Bhasin, who became Bank of America’s chief technology and information officer in 2022. Froelich will continue to report to Bhasin.
Bhasin succeeded Cathy Bessant as the bank’s top tech exec. Bessant moved to a new vice-chair role at the bank in 2021. Now based in Paris, Bessant helps manage BofA’s global strategy alongside European boards.
Last year also saw the departure of Sumeet Chabria, formerly Bank of America’s head of global business services, from the bank’s top tech ranks.
A focus on developer experience
Froelich isn’t the first tech executive on Wall Street to take on developer experience, a catchall term that encompasses how engineers, developers, and tech staffers interact with each other and the tools they use.
At Goldman Sachs, for example, CIO Marco Argenti has made developer experience a key focus of his strategy. And at JPMorgan, James Reid was elevated in May 2021 to head up a team devoted to employee experience and corporate technology.
Capital One, one of the banks at the forefront of a broader industry move to cloud adoption, has also directed its cloud efforts towards improving the tools developers use.
“We’re all asking ourselves, ‘How do we maximize our investment in the cloud when it comes to innovation and developer productivity?’ We didn’t move to the cloud just to rent virtual machines, hard drives and a network,” Will Meyer, managing vice president of cloud and connectivity at Capital One, previously told Insider.
