Struggling Bank of America shakes up executives
CHARLOTTE, N.C. (AP) — Embattled Bank of America Corp. is shaking up its management ranks, announcing that two key officers will leave.
Sallie Krawcheck, head of global wealth and investment management, is leaving. A Citigroup veteran, she was hired in late 2009, toward the end of former CEO Ken Lewis' tenure.
Joe Price, president of the consumer bank, will also leave. He was the CFO under Lewis, but got his new job when Brian Moynihan became CEO in early 2010.
David Darnell, a Bank of America veteran who was elevated to the top ranks by Lewis, will become co-chief operating officer. He will share the newly created position with Tom Montag. Montag joined the bank when it bought his employer, Merrill Lynch, in early 2009.