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TIMOTHY E. JARMAN 
Tim has over 30 years of Expense Management and Executive Leadership in the Banking
industry. With an eye for creative ways to leverage the buying power of a company
to reducing expenses through management and process change, Tim identifies potential
opportunities and productivity improvements.
Through his leadership Tim assists clients in key business approaches with change
initiatives that enable them to increase earnings per share through improved operating
efficiencies.
Tim came to Vitex from Bank of America, one of the world's largest Financial Institutions
headquartered in Charlotte, North Carolina. While at Bank of America he was the
Senior Vice President responsible for Procurement Services for domestic and international
offices serving clients in 190 countries. Projects implemented over the years of
acquisitions and mergers, have resulted in savings to Bank of America of over $1
Billion. Several of the key cost savings initiatives included:
'Vendor Leveraging - Computer buying, on-line office supplies, copy/fax equipment,
express mail services, bank equipment, fixed assets (furniture, carpet, etc.)
'Strategic Sourcing - Commercial print, warehouse distribution, telecom, travel,
mail services, property management, and food services.
'Outsourcing - Courier services, credit services, banking machines and computer
maintenance, temporary labor, security services, and facilities management.
He was also responsible for contract management, contract negotiations and strategic
sourcing. Tim also headed the Bank's award-winning Minority Business Development
division. Tim brings an unprecedented level of knowledge and expertise to Vitex
clients in the area of Procurement LifeCycle Management and strategic sourcing.
Active in the community, Tim is a past member of the board of directors of the Charlotte
Repertory Theatre, and he is past President of the University of North Carolina
at Charlotte Bachelor of Social Work Community Advisory Board.
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