Finance | Insurance 2023: LAWRENCE ‘LARRY’ DI RITA

Di Rita, who had already had an impressive 25-year career in the Navy and federal government, embarked on a second career as a banking executive when he joined Bank of America in 2006. He was named market president for Greater Washington, D.C., in 2019.

From 2001 to 2006, Di Rita served as special assistant to the secretary of defense and was also Defense Department spokesman and head of DoD’s Office of Public Affairs. From 1996 to 2001, Di Rita was legislative director and chief of staff for U.S. Sen. Kay Bailey Hutchison, R-Texas. He served as a naval officer from 1980 to 1993.

Di Rita has a bachelor’s degree from the U.S. Naval Academy and a master’s degree from Johns Hopkins University’s School of Advanced International Studies.

He’s currently the Rumsfeld Foundation’s board secretary and a member of the U.S. Navy Memorial’s board of directors.

Bank of America posted $94.95 million in 2022 revenue, with $3.1 trillion in total assets. Over the past decade, Bank of America’s network has contracted almost in half to 3,800 branches, but its consumer deposits have almost doubled to $1 trillion. The bank is adding branches in four states, it announced in June.