Local Power Meets National Influence
Bank of America Chairman Walter Massey has selected Charles A. Tribbett III, an executive recruiter with Russell Reynolds Associates, to lead the search for the bank’s next CEO, according to sources familiar with the decision. While the firm has not confirmed Tribbett’s appointment as of 5 PM EDT, The Wall Street Journal reported earlier on the recruiting firm’s involvement—though without naming the lead recruiter.
This move underscores not just a strategic CEO search but also the deep local ties between two Chicago power players, reflecting Chicago’s growing influence in both business and politics on a national scale.
Mixed Signals on Internal Candidates
What’s Next for Bank of America?
The appointment of Tribbett raises questions about whether Bank of America will seriously consider internal candidates or continue to focus on external leadership amid ongoing speculation.
The decision also highlights how relationships and regional influence continue to shape leadership decisions at the highest level.
Who is Charles A. Tribbett III?
A Trusted Advisor in Elite Circles
Charles A. Tribbett III serves as the domestic co-head of Russell Reynolds’ CEO and Board Practice. He has been with the firm since 1989, following roles as:
Partner at Abraham & Sons, a Chicago investment and brokerage firm
Corporate securities attorney at Skadden, Arps, Slate, Meagher & Flom
Tribbett is also highly engaged in civic life, serving on the boards of:
Northern Trust Bank
Chicago Symphony Orchestra
Chicago Council on Global Affairs — where First Lady Michelle Obama is listed as a lifetime director
Walter Massey: A Leader with Deep Academic and Corporate Roots
From Academia to the Boardroom
In addition to his role as BofA Chairman, Walter Massey brings a broad background that includes:
Serving on the board of McDonald’s Corporation
A trusteeship at the University of Chicago
Previous board roles at Delta Corp. and First Chicago Corp.
Massey and his wife, Shirley, live near the University of Chicago and Argonne National Laboratory, where he once served as director. His leadership journey spans both the corporate world and higher education, adding another layer of influence to this search process.
The Chicago Connection: A Web of Influence
While it’s unclear where Tribbett will ultimately look to find the new CEO for the Charlotte, N.C.-based Bank of America, what is clear is this:
A tightly woven network of board, civic, and professional ties between Tribbett and Massey will inevitably influence the outcome.
In high-stakes searches like this one, relationships matter. Always have. Always will.