Skip to Main Content
Board Members

Carol Lee Mitchell

Director

Carol Lee Mitchell is the Head of Small Business Strategy, Specialty and Consumer Vehicle Lending (CVL) Strategy leading initiatives designed to grow the SB enterprise business at large and is responsible for: small business P&L, client centric investments, client experience, merchant solution and payments, innovation labs center, and strategic partnerships. Bank of America is the #1 Small Business Lender in the country, #1 Digital Platform, #1 Practice Lender, and Largest driver of the most recent PPP (Payment Protection Program) efforts. The Bank of America Small Business portfolio represents approximately 40% of women business owners and is committed to driving equitable access to Education, Research/Mentorship and access to Capital. Ms. Mitchell most recently led the Small Business social bond investment effort – a part of the banks $1.5B investment – to drive social justice to the Black African American community of doctors and dentist in our top low to moderate income markets.

Ms. Mitchell joined Bank of America in 2019 with over 25 years of experience in payments and technology and most recently comes from Mastercard where she spent 14 years in the global payments arena leading global product, digital & technology and innovation related initiatives. At Mastercard, Carol Lee led the growth of the Bank of America business globally across consumer, commercial, digital and innovation practices. Under her leadership, Bank of America and Mastercard significantly grew the partnership across all products and services and now represents one of Mastercard’s largest global clients.

Carol Lee’s platforms include the challenges of small business owners and the needs of women and minority small business owners. She serves as the Executive Sponsor and Ambassador for the Asian Small Business Owner Spotlight Report.

Ms. Mitchell is passionate about the development of future women leaders and driving equitable support and opportunities. She is the executive sponsor for career development across consumer and small business and serves an executive mentor in the 30% Club, committed to gender balance and representation at Executive Board level. She also serves as Co-Executive Sponsor for the Delaware Valley chapter of the Asian Leadership Network (ALN). Ms. Mitchell is also a Lecturer at The Wharton School of Business at the University of Pennsylvania.

Carol Lee has a BA in organizational communication from San Francisco State University and Masters in Business Administration (MBA) from the University of Notre Dame. She resides in Pennsylvania with her husband Sebastian and daughter Madeline.