BofA names new management team under CEO Moynihan

Bank of America Corp on Tuesday announced a reshuffled executive management team under new Chief Executive Brian Moynihan. The move is the second major shift in the senior executive ranks at the largest US bank in less than six months. In August, then CEO Kenneth Lewis overhauled the executive management team, but announced his intention to retire on December 31 less than a month later. In the biggest move announced, Chief Financial Officer Joe Price will head consumer, small business, and credit card businesses, and Bank of America will begin a search for a new CFO, according to the company announcement. Price will fill both positions until February 1, when Neil Cotty will take over as interim CFO, until a permanent successor is named. Chief risk officer Greg Curl will focus instead on strategic partnerships in an unnamed post. Curl will be replaced by Bruce Thompson, currently head of Global Capital Markets, as chief risk officer, according to the company's statement.