David Leitch Spotlight

David Leitch

David Leitch joined Bank of America as general counsel in 2016, at a time in his career when he was ready for something different. With experience in government and 10 years spent as general counsel for the Ford Motor Company, financial services was new, and he was excited about the change. “I thought that the auto industry was heavily regulated. It turns out, I had no idea how intensely regulated the financial services industry was.”

Earlier in his career, David’s government service placed him at the center of one of the most consequential moments in modern aviation history.

Reflections on 9/11

On September 11, 2001, David was serving as general counsel of the Federal Aviation Administration. Based in Washington, D.C., he had to make his way back from a conference in Florida to help manage what was a devastating and constantly evolving crisis. On this 25^th anniversary of that terrible day, he shares his reflections on what changes the terrorist attacks brought, and how we still feel the impact of those changes today. 

That experience reinforced for David the importance of steady leadership, clear principles and credibility during moments of extraordinary complexity.

Having a simple message to rally around drives culture

David says that he found the culture and focus on Bank of America’s guiding principles important to understanding the company and its ongoing relationship with regulators. “The really impressive thing is the consistency of the message around Responsible Growth and the risk framework. It’s important to have a consistent, simple message that people can rally around. It drives the culture of the company.”

When working with regulators, the culture and guiding principles become important to building credibility. “The most challenging moments in our work came when regulators were investigating something and had questions. Litigation comes and goes, but the relationships with regulators are ongoing year after year, and it is important that they have the right understanding of the company’s culture and that we have the right compliance mindset and respect for their role.”

Digital innovation and leadership

David said that he was impressed by Bank of America’s leadership in driving innovation across financial services, especially in mobile banking and digital capabilities. “So much of what we do in our financial lives is digital, and having those best-in-class abilities is important. I remember being amazed that my son could deposit a check from his phone 15 years ago, and then again when Erica came along – the company is a leader in all of those spaces.”

Time for family and farming

While living in Charlotte, David served on the board of the local United Way chapter, and he and his wife supported Nest Schools. Now that they’ve left Charlotte for Charlottesville, VA, they live close to two of their four grandchildren and are developing their property into expansive gardens where they plan to have livestock. Although David says that moving away from Charlotte makes it a little harder to keep in touch with former colleagues, the Alumni Network helps him stay connected. “I have a great interest in and appreciation for the Alumni Network and find it both useful and interesting.”