($BAC) Bank of America Corp, which has lost almost half of its market value this year, announced a broad reorganization on Tuesday that includes the departure of two senior executives.
The biggest U.S. bank said after the market closed that Joe Price, head of consumer banking, and Sallie Krawcheck, head of global wealth and investment management, have left. Price was a former chief financial officer of the company, and Krawcheck was a former CFO of Citigroup, leader of its Smith Barney brokerage unit and frequently touted as the highest ranking woman in the financial services industry.
Chief Executive Brian Moynihan named commercial banking head David Darnell and investment banking head Tom Montag, a former Goldman Sachs executive, to new positions as co-chief operating officers.-Reuters
The biggest U.S. bank said after the market closed that Joe Price, head of consumer banking, and Sallie Krawcheck, head of global wealth and investment management, have left. Price was a former chief financial officer of the company, and Krawcheck was a former CFO of Citigroup, leader of its Smith Barney brokerage unit and frequently touted as the highest ranking woman in the financial services industry.
Chief Executive Brian Moynihan named commercial banking head David Darnell and investment banking head Tom Montag, a former Goldman Sachs executive, to new positions as co-chief operating officers.-Reuters
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