New CEO for Bank of America

brian-moynihan

Brian Moynihan will replace Ken Lewis as chief executive of Bank of America on January 1.

Moynihan, who is currently president of consumer and small-business banking, was elected to the top role by the bank's board yesterday.

The Charlotte-based firm has been on the lookout for a successor to Lewis since September, when he announced his resignation effective December 31 after eight years at the helm of the bank.

In August, the bank implemented a series of changes to its executive management

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