Bank of America hires Merrill Lynch banker as Colorado market president 

DENVER — Gabby Hodgson is Bank of America NA’s (NYSE: BAC) new Colorado market president, taking over the role from Raju Patel.

Patel, who was BoA’s Colorado market president for six years, will continue in his role as the bank’s Colorado global commercial banking market executive.

Hodgson joins Bank of America from its subsidiary company Merrill Lynch, where she had served on wealth-management firm’s Denver leadership team since 2023.

“Gabby has delivered terrific results for the Merrill team in Colorado, measurably deepening our client coverage efforts, and growing deposits and assets under management,” BoA CEO Brian Moynihan said in a prepared statement. “Gabby is well positioned to continue the success Raju achieved in building the bank’s presence and profile in our first expansion market.”

Bank of America entered the Colorado market a little more than a decade ago and cranked up its expansion efforts in the Boulder Valley and Northern Colorado in 2020. During Patel’s tenure as Colorado market president, BoA opened 32 branches and grew deposits by $2 billion, the bank said.

The Charlotte, North Carolina-based institution, the second-largest bank in the United States and eighth-largest by deposit share in Colorado, has local branches in Boulder, Broomfield, Fort Collins, Greeley, Lafayette, Longmont and Westminster. 

Bank of America recently submitted an application to develop a new Broomfield branch at 16802 Galapago Place near the northwest corner of Baseline Road and Palisade Parkway. “The proposal includes a 4,320-square-foot bank building with three drive-thru lanes” and parking for 17 cars, according to a Broomfield planning memo.

Bank of America controls more than $2.6 trillion in assets, according to the Federal Reserve.

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