Clement will report to corporate marketing and communications executive Catherine Bessant.
BoA said the post had been vacant for some months.
Clement will oversee all corporate communications functions, including internal and external communications, media relations and executive communications.
The job has been refocused and no longer includes public affairs as part of the remit.
Clement has been at BoA for 21 years, most recently acting as personnel executive for the bank's communications and marketing, finance and legal and management services divisions.
He inherits a communications staff of around 175.
While he has had a lot of experience in internal communications, this will be his first foray into PR and external relations.
'In the past, I've served many major businesses in the company, and have grasped the basic needs of our business partners and what they want to achieve,' said Clement.
'I'll have to learn the rest, and I fully expect to,' he added.
BoA - which is listed on the stock exchanges including New York and London - has 4,400 offices across America, alongside 30 international operations serving clients in over 150 countries.