Bank of America names new state president for Maine

Posted May 15, 2012, at 5:58 p.m.

Bank of America said Tuesday it has named Bill Williamson as a new state president for its Maine banks.

Williamson is a Maine native and Falmouth resident who has been with the company since joining a predecessor institution in 1981. Williamson said Tuesday he was with Fleet Bank when Bank of America acquired it; previously he had worked for Bank of New England and Maine National.

Williamson is a senior client manager in the bank’s Global Commercial Bank, where he works with public and private companies in Maine, New Hampshire and Vermont.

Bank of America said in a statement that Williamson will “help integrate Bank of America business lines throughout Maine, allowing the company to reach more individuals, families and businesses while deepening relationships with existing customers. He also will oversee corporate social responsibility activities including philanthropic giving, community development lending and investing, environmental initiatives, diversity efforts, arts and culture projects, and employee volunteerism.”

According to Bank of America, Williamson replaces Betsey Timm, who served as state president since 2004, and state president for a predecessor institution beginning in 1998. Timm will retire in June.

Williamson will have fewer branches to oversee. It was announced on April 24 that Camden National Bank was acquiring 15 Bank of America branches in Maine in a $20 million deal. That was roughly half of Bank of America’s presence in the state.

After that deal closes, Bank of America will be the fifth largest bank in Maine, after TD Bank, KeyBank, Camden National and Bangor Savings, with 5.86 percent market share.

Williamson said the company still has a “very significant presence” in terms of the number of employees, though Bank of America doesn’t disclose headcounts in each state. More importantly, he said, the company has a significant presence on a client and business basis.

“We’re the primary bank to most of the largest businesses headquartered in the state,” he said.

And for those businesses, it’s the breadth of Bank of America’s reach that is valuable, he said. For example, he said, Bank of America was the adviser on the deal when South Portland-based Wright Express acquired an Australian firm. Bank of America had people in Portland, New York and Australia supporting the transaction, he said.

“When I think of our employees and supporting our commercial line of business, yes, it’s people here in Maine,” said Williamson. “But more importantly, we draw from throughout the franchise to support our clients.”

Williamson also will be working on the bank’s charitable giving in Maine.

The bank is restructuring its focus in that area, now prioritizing jobs and work force development, housing and critical needs meaning primarily hunger.

He said Bank of America recently met with about 50 nonprofits to talk about what they need, and one main theme that became apparent was that more of them need to work together to seek funding on joint projects, to avoid overlap.

According to the company, Bank of America employees in Maine volunteered more than 32,000 hours to local nonprofits and the bank gave $800,000 statewide to philanthropic causes in 2011.

SEE COMMENTS →

ADVERTISEMENT | Grow your business
ADVERTISEMENT | Grow your business