The Future of Bank of America
Brian Moynihan
• According to Sue Chang of Marketwatch, today Bank of America named Brian Moynihan as president of global banking and global wealth and investment management to replace John Thain who has resigned. • Chief Executive Ken Lewis said in a statement that the change of leadership does not reflect a significant change in direction for the global banking or wealth management operations. • Moynihan is Bank of America's general counsel and will remain in that role until the company searches for his successor. The lender also said Tom Montag will continue to run the global markets unit and will report to Lewis directly. Montag joins Bank of America's management executive team, which decides on company strategy.