BAI & RMA: Statement on Intent to Merge

CHICAGO – July 19, 2023 – BAI (Bank Administration Institute) and RMA (Risk Management Association) have executed a letter of intent to merge in a move that will join organizations with rich histories of serving the financial services industry and its professionals. The merger is expected to become effective in December 2023.

The strategic combination will make a meaningful difference in how the industry is supported at a time when financial institutions encounter expanding challenges and opportunities. The merger will unite the complementary offerings of each organization, preserve RMA and BAI’s common mission and consistent values, and build on the loyalty of their members and customers.

Upon completion of the merger, BAI’s current CEO, Debbie Bianucci, will become CEO of the new association. Nancy Foster, who announced her retirement as RMA’s CEO earlier this year, will transition to an advisory role in 2024.