Bank of America (BofA) has been in Los Angeles for over 110 years, and they take that reality seriously.
Raul A. Anaya is president of business banking at BofA and he takes his position seriously. He has served in this capacity for several years.
Recently, BofA CEO Brian T. Moynihan appointed Anaya to oversee the bank’s comprehensive response and rebuilding efforts for greater Los Angeles after the recent wildfires. Anaya shared with the Sentinel about his new position and how BofA is helping their clients and families through this difficult time.
“It’s exploring ways to support our clients,” said Anaya. “Many of our clients were impacted by the fires—they had homes in Altadena and Pacific Palisades as well as small and larger businesses.”
“We also had 2,500 clients, who had safe deposit boxes in our two financial centers that were destroyed. We’re in regular communication with them on our efforts of safely removing and relocating the safe deposit boxes so that they can access them at another safer, nearby location.
“It’s working with them, to assist them with anything that they might need. Whether its more flexible payment plans through our forbearance program, which we offer to them.
“We set up a dedicated team of colleagues, who serve as point persons for anything they need at Bank of America.”
BofA shared that this team is made up of a dedicated group, who specialize in disaster relief needs, mortgage, business, consumer and community philanthropic services to begin addressing the long-term needs of clients and local communities impacted.
Anaya also shared BofA will make third-party companies available to answer those questions they may not be able to answer. BofA doesn’t just have the community interest at heart, but their employees as well.
“We had over 40 of our teammates who lost their homes,” said Anaya. “We’ve been working with providing them with unique service.
“Whenever there is a natural disaster like we just experienced—it’s providing them with temporary housing, make sure they have access to healthcare and other services they will need.”
BofA has deployed $2 million of philanthropic support locally, including a $1 million grant to the American Red Cross, as well as $500,000 contributions to both the LA Regional Food Bank and the LA Area Chamber of Commerce Foundation. The bank and its employees around the world have also directed an additional $350,000 to local charities.
Anaya has also opened a temporary BofA mobile branch in Altadena near the burned down branch, and working on finalizing logistics to locate another mobile branch in Pacific Palisades. He is also organizing the Los Angeles banking community, large-asset management companies based in the Southland and other key industries, such as real estate and construction materials, to serve as a sounding board and advisory for Los Angeles Mayor Karen Bass, county supervisors and state officials.
“We’re very proud to be a sponsor of the L.A. Sentinel’s Wildfire Recovery Conference,” said Anaya. “We’re looking forward to be a part of this special conference.
“We’ll have other key executives, employees there that will serve as a Bank of America resource to them if they have any questions around how we can help with the rebuilding effort, insurance, things like that.”
Bank of America through its decades of experience serving communities and clients during natural disasters has the expertise, the capital and the connections to help Los Angeles recover and rebuild. Anaya’s believes BofA is equipped to meet families, their clients and communities where they are, but it’s going require everyone coming together.
“I’ve been amazed at the passion that the community has demonstrated whether its philanthropic leaders, other business leaders, elected officials in making sure that we’re addressing the critical needs of the region,” said Anaya. “The outpouring of support, the amount of energy that exist around the rebuild efforts.
“Ultimately, it’s going to require a public/private partnership with the business, philanthropic community and government really working together to help with the recovery.”
