We’re excited to introduce you to the always interesting and insightful Al McRae. We hope you’ll enjoy our conversation with Al below.
Al, thank you so much for joining us today. Let’s jump right into something we’re really interested in hearing about from you – being the only one in the room. So many of us find ourselves as the only woman in the room, the only immigrant or the only artist in the room, etc. Can you talk to us about how you have learned to be effective and successful in situations where you are the only one in the room like you?
My career in the wealth management industry has given me several opportunities to be successful even when I have been the only one in the room that looks like me. I began as an investment portfolio manager, and that profession was not as diverse at the time (18 years ago). What I learned early on was that relationships matter. I found that if I leaned into genuinely to getting to know other people – their background, experience and passions – then they would want to get to know me. My curiosity gave me an opportunity to connect and build relationships with people I might not otherwise know, as I typically stood out in a crowd because I was unique in looks and age as the one of the youngest in a room. I learned to listen, find commonality and embrace being different to develop relationships with others.
Great, so let’s take a few minutes and cover your story. What should folks know about you and what you do?
In 2021, taking on the role as President of Bank of America Atlanta was a significant milestone in my career. Every day, I am excited to represent Bank of America and contribute to Atlanta by leading over 5,000 associates across eight lines of business (Retail Banking, Preferred Banking, Merrill, Private Bank, Business Banking, Global Commercial Banking, Global Corporate & Investment Banking, Global Markets) to meet the needs of a diverse customer base.
Throughout my 20 years with BofA, I’ve seen significant changes in the banking industry. Specifically for BofA, we have moved from just offering products to empowering our clients and driving our strategy of Responsible Growth. I’ve also witnessed an unwavering commitment to community, diversity, equity, and inclusion. Our focus on economic mobility and small business success has made a positive impact in Atlanta, addressing challenges in low to moderate-income and minority communities.
In addition to my role as President, I work within our Private Banking unit as a Business Development Executive, tasked with driving diverse client acquisition. As an organization, we offer a range of products, advice and services that speak to the unique needs of all individuals and families. That especially applies to diverse individuals and families a cohort that is creating wealth faster than ever. Surveys and data suggest that their perspectives on wealth can be different and nuanced – thus it is our objective as an organization is to make sure that individuals from diverse backgrounds and experience understand we are here to empower them along their journey to build a legacy that they can be proud of.
Looking back, what do you think were the three qualities, skills, or areas of knowledge that were most impactful in your journey? What advice do you have for folks who are early in their journey in terms of how they can best develop or improve on these?
Throughout my journey, I’ve come to realize the impact of effective communication, continuous learning, and nurturing meaningful relationships. Mastering communication has been the most useful skill in my journey. Learning how to communicate effectively has helped me facilitate meaningful personal and professional relationships.
Additionally, prioritizing ongoing learning has empowered me to deepen my understanding of my industry. Early in my career, I looked for opportunities to learn more about the overall business I was in, and it helped me see the broader picture. This education led to greater confidence, and when opportunities arose, I was able to discuss my thoughts and ideas around business strategy beyond my current role. I’ve learned that the key to success is built in relationships. Making connections with colleagues and leaders has not only enriched my professional network but also fostered personal growth.
Thanks so much for sharing all these insights with us today. Before we go, is there a book that’s played in important role in your development?
The book The Road Back To You by Ian Morgan Cron and Suzanne Stabile was a good read for professional and personal development as it outlines how individuals look at the world differently. For me, it was a self-discovery to developing an empathetic approach and connection for people that have different views. It is a book about relationship development and how to build connections and facilitate communication more effectively personally and professionally.
Contact Info:
- Website: bankofamerica.com
- Instagram: bankofamerica
- Facebook: bankofamerica
- Linkedin: https://www.linkedin.com/in/alfred-al-mcrae-278a383/
