Salvatore “Chip” Rossi may be one of the true Delaware success stories: the son of a bricklayer and former star athlete from William Penn High School turned banking executive.
For Rossi, who leads close to 6,000 employees in the Delaware Market and helps play a role in Bank of America’s $26.5 billion revenue earned in 2023, he sees it as a small part to play in the state he calls home.
“To have this role for the past 12 years, it’s been just a privilege to serve in a state I grew up in,” Rossi said. “Bank of America has the capabilities to support customers throughout their journey in life and help them accomplish what they want to and to support the team I work with every day, it’s a tremendous honor.”
Rossi started his career with MBNA, one of Delaware’s most iconic companies through a management program, eventually working his way through the ranks until the company was acquired by Bank of America. Throughout his journey, he was able to gain experience in credit underwriting, operations and global compliance.
While he’s been tested as a leader through several challenging times, such as the Great Recession and the COVID-19 pandemic, he’s learned that working with thousands of people across all walks of life requires a leader that helps drive the team forward.
“One thing I’ve learned is that leaders are the keeper of the why. Why do we get up every day, why and how do I help this organization accomplish its goals,” he said. “You really have to connect with a purpose and that purpose is about the clients who trusted us with their financial resources.”
Bank of America manages $2.7 billion deposits in Delaware and $1.9 billion in commercial business loans. The financial giant also extends $57 million in home loans and $40 million in loans to small businesses. But Rossi knows full well there are stories behind each of those numbers, even though the company is also entrusted to generate profit for shareholders.
“Maybe you’re thinking about buying your first car or you’re a first time dad starting to think about paying for your child’s education. Or you’re thinking about starting a business and where to get that expertise,” Rossi said. “It all comes back to how we can get people together to help solve these problems.”
