Bank of America vice-president Erin Piacenti, 32, was fatally stabbed in New York’s Times Square on Monday in an apparently random attack that left another man injured and the suspect dead after police opened fire.

Piacenti was attacked at about 4.24pm local time near West 42nd Street and Seventh Avenue, according to the New York Police Department. The 68-year-old man who was stabbed survived and was in a stable condition in hospital.

The suspect, 49-year-old Pamela Cisneros, allegedly removed two large knives from a shopping bag before attacking the man and then Piacenti, police said. Officers found Cisneros brandishing the weapons and advancing towards them before shooting her; she was later pronounced dead.

NYPD commissioner Jessica Tisch said officers spent four minutes attempting to persuade Cisneros to drop the knives and used a Taser, which she removed. “I would rather kill both of you,” Tisch said Cisneros told officers during the confrontation.

Bank of America confirmed Piacenti’s death on Tuesday, describing her as a valued colleague. “We are shocked and deeply saddened by the tragic loss of our colleague,” the bank said in a statement, adding that its “hearts go out to her family and all of her loved ones”.

Piacenti was a vice-president in Bank of America’s business selection and conflicts unit and had joined the bank about 18 months ago, according to an internal memo seen by Reuters. She graduated from Fordham Law School in 2021 and had previously worked at Morgan Stanley.

Matthew Koder, Bank of America’s president of Global Corporate & Investment Banking, described Piacenti as a “cherished teammate and friend” in the memo. Koder said the bank’s security teams were supporting the police investigation and addressing the safety and security of its offices and employees.

The attack took place in one of New York’s busiest tourist areas, outside One Times Square, where the city’s annual New Year’s Eve ball drop is held. Tisch described the incident as “an extraordinarily dangerous situation” given the number of people who regularly pass through the area.

Police said Cisneros had a documented history of mental health-related encounters with officers in 2018 and 2019, but no New York City arrest record. The NYPD said the investigation by its Force Investigation Division remained ongoing.

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