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Bank of America taps new CEO, Brian Moynihan

2009-12-22 15:58:33 (GMT) (Caymanmama.com - Banks & Banking Business News)

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Bank of America

Nashville, Tennessee (CaymanMama.com) — The board of directors at the North Carolina headquarters of Bank of America have chosen the company’s new CEO.

According to the Associated Press, Brian Moynihan will now replace Ken Lewis, assuming his new position on January 1st.

Moynihan said in a statement, “I am honored to have the opportunity to lead this important company… We have everything we need at Bank of America to be the best financial services company in the world. What we need to do now is very simple. We need to execute.”

Dr. Walter E. Massey, chairman of Bank of America, was satisfied with the new choice as he was the one who directed the search for the new chief executive.

“Brian’s wide range of experience, his relationships inside and outside of the company, and his demonstrated ability to understand business dynamics and effect constructive change made him the best person for the position,” Massey said.



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