Bank of America (B of A) Consumer and Small Business Banking President Brian T. Moynihan will replace Kenneth D. Lewis as Bank of America President and CEO when Lewis retires on December 31, 2009. Moynihan joined B of A as Global Wealth and Investment Management President in 2004, when B of A acquired FleetBoston Financial. Moynihan served in this position until 2007, when he was appointed president of B of A’s Global Corporate and Investment Management, a post he held until August 2009. B of A Chairman Walter Massey said, “Brian’s wide range of experience, his relationships inside and outside the company and his demonstrated ability to understand business dynamics and effect constructive change made him the best person for the position.” Moynihan said, “This company has a long tradition of operational excellence and strong execution. My goal is to refocus our efforts and attention to those core capabilities that will make us the best financial services firm in the world.” Moynihan is 50 years old and chairs B of A’s Global Diversity and Inclusion Council.
Tuesday, December 29, 2009
MOYNIHAN TO HEAD BANK OF AMERICA
Bank of America (B of A) Consumer and Small Business Banking President Brian T. Moynihan will replace Kenneth D. Lewis as Bank of America President and CEO when Lewis retires on December 31, 2009. Moynihan joined B of A as Global Wealth and Investment Management President in 2004, when B of A acquired FleetBoston Financial. Moynihan served in this position until 2007, when he was appointed president of B of A’s Global Corporate and Investment Management, a post he held until August 2009. B of A Chairman Walter Massey said, “Brian’s wide range of experience, his relationships inside and outside the company and his demonstrated ability to understand business dynamics and effect constructive change made him the best person for the position.” Moynihan said, “This company has a long tradition of operational excellence and strong execution. My goal is to refocus our efforts and attention to those core capabilities that will make us the best financial services firm in the world.” Moynihan is 50 years old and chairs B of A’s Global Diversity and Inclusion Council.
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