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Bank of America has named a new market president and commercial banking executive for the region that includes southern New Jersey, it announced Wednesday.Jim Dever will serve as market president for Philadelphia, in addition to global commercial banking market executive for Pennsylvania, Southern New Jersey and Delaware.

“Jim’s leadership in Philadelphia will ensure we are helping all of our customers and clients live their financial lives through the power of every connection we can make with them,” CEO Brian Moynihan said in a prepared statement.

Dever, who has been with Bank of America for 25 years, replaces Tom Woodward, who retired effective June 30 after serving eight years as market president.

In his new role as market president, Dever will oversee all lines of business in the area, as well as serve as the voice of the company in the region, Bank of America said. In his role as GCB market executive, he will oversee the Middle Market Banking team that works with companies of $50 million to $2 billion in annual revenue.