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Management Strategies

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Moynihan Announces Revised BofA Management Team

Alphin, Bessant, Darnell, Desoer, Krawcheck all in final lineup.

Brian Moynihan, chief executive officer and president of Bank of America, today announced the company's most senior management team.

The revised management team, whose members will report directly to Moynihan, is now comprised of:

Steele Alphin, chief administrative officer

Cathy Bessant, who will become Global Technology and Operations executive. She is currently president of Global Corporate Banking

David Darnell, president of Global Commercial Banking

Barbara Desoer, president of Home Loans and Insurance

Anne Finucane, global strategy and marketing officer

Sallie Krawcheck, president of Global Wealth and Investment Management

Tom Montag, president of Global Banking and Markets

Ed O'Keefe, general counsel

Joe Price, who will become president of Consumer, Small Business and Card Banking, which includes the company's deposit, small business and card businesses. Price 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. Thompson 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.

"Greg is a principal architect of one of the world's premier financial services franchises," said Moynihan in a statement. "As chief risk officer, he has positioned Bank of America for strength, stability, and soundness as we continue to work through the economic challenges ahead. I have benefited from his counsel and judgment."

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