Facing mounting legal liabilities and a falling stock, Bank of America is shaking up its executive management team, again.
On Tuesday, the beleaguered bank detailed another major reorganization, announcing the departure of two finance veterans Sallie Krawcheck, the president of global wealth and investment management, and Joe Price, the president of consumer and small business banking.
As part of the changes, David Darnell and Tom Montag were named co-chief operating officers, reporting directly to the company’s chief executive, Brian T. Moynihan. Mr. Montag will oversee the banking and markets activities of the company, including Bank of America Merrill Lynch, which he headed previously. Mr. Darnell, now head of global commercial banking, will run all of the bank’s consumer businesses, including wealth management and home loans
http://dealbook.nytimes.com/2011/09/06/krawcheck-price-out-in-bank-of-america-shake-up/
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