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CHARLOTTE, N.C., Bank of America’s board of directors has chosen consumer banking chief Brian Moynihan to replace Ken Lewis as CEO of the nation’s biggest bank on Jan. 1.

Their pick of an internal candidate on Wednesday followed a months-long search and unsuccessful attempts to hire a star industry executive for the top job. The negotiations were complicated by pay restrictions imposed by government pay czar Kenneth Feinberg before the Read the rest of this entry »

CHARLOTTE, N.C., Bank of America’s board of directors has chosen consumer banking chief Brian Moynihan to replace Ken Lewis as CEO of the nation’s biggest bank on Jan. 1.

Their pick of an internal candidate on Wednesday followed a months-long search and unsuccessful attempts to hire a star industry executive for the top job. The negotiations were complicated by pay restrictions imposed by government pay czar Kenneth Feinberg before the Read the rest of this entry »