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BOA's Liz Ferrer: Leadership Is Key

Elizabeth Ferrer
Elizabeth (Liz) Ferrer
Florida State President and Global Community Development Executive
Bank of America , Jacksonville

[Photo: Kelly LaDuke]
Wearing two hats for an organization might seem to some a flat-out burden. But not to Elizabeth Ferrer. She sees her dual roles at Bank of America — Florida state president and global community development executive — as complementary and uniquely valuable.

In her statewide role, Ferrer is able to see all of Florida’s diverse regions and learn their strengths. She carries this knowledge into her other role, building on the combined attributes to energize Florida’s global presence and competitive edge.

“Much of what could be said about our economy is not news,” Ferrer contends. “We all believe the economy is very weak nationally and in our state.” But, she stresses, simply recognizing the problem is not enough. Strong leadership is the key to recovery. And, she adds, Bank of America is poised to lead the recovery effort.

“Our leadership team has set three priorities as we are wrapping up 2008 and turning the corner into 2009: neighborhood preservation and stabilization, economic development and leadership.”

Bank of America acquired Countrywide Financial Corporation in July, providing the foundation for a home retention program to systematically modify troubled mortgages. Up to $8.4 billion in interest rate and principal reductions will be provided for nearly 400,000 Countrywide Financial Corporation customers.

“Stabilizing the housing market is critical to recovery,” says Ferrer. “This program is taking a bold leadership role toward that goal.”

She stresses the positives. “Job creation and retention are priorities in Florida and there are exciting projects under way. The bottom line is: Bank of America is open for business.”