David Darnell is named the president of global commercial banking. Barbara Desoer will take over as president of home loans and insurance. Anne Finucane will become global strategy and marketing officer. Sallie Krawcheck is selected as the president of global wealth and investment management. Tom Montag will be the president of global banking and markets, and Ed O’Keefe, general counsel.
Joe Price will become president of consumer, small business and card banking, which includes the company’s deposit, small business and card businesses. He will continue to serve as chief financial officer until February 1, while the bank engages in an external search for a new chief financial officer. After February 1 and until a permanent replacement is found, Neil Cotty will serve as interim CFO.
Bruce Thompson will be chief risk officer. He is currently head of global capital markets. Greg Curl, current chief risk officer, will focus on key strategic partnerships critical to Bank of America’s global capabilities.
The entire team will directly report to Brian Moynihan, CEO.
Mr Moynihan said: “The leadership, judgment, diverse backgrounds, and experience of this team are just what we need to execute on the best business model in our industry. Together, we will focus on serving our customers and clients, returning our company to profitability for our shareholders, and ensuring our 300,000 outstanding fellow associates have all they need to help our company succeed.
“This management team will not waver in our commitment to clarity, fairness, to putting the customer and client at the center of everything we do, and to working with public officials and policymakers to achieve our mutual goal of economic prosperity.”
