Brian Moynihan, chairman and chief executive officer of Bank of America Corp, speaks in New York City, September 25, 2019.
Shannon Stapleton | Reuters
Bank of America CEO Brian Moynihan announced the most sweeping management overhaul of his 12-year tenure atop the giant financial institution.
In a memo distributed to employees on Friday, Moynihan named a new chief financial officer, technology head, general counsel and chief administrative officer. The firm’s management team added five new members, he said.
“These changes position the company with highly energized leaders who are committed to driving responsible growth through its second decade,” Moynihan, 61, said in the memo. “As I shared with our board of directors, it will continue to be my privilege to serve with them as CEO.”
The moves solidify Moynihan’s position leading Bank of America, the second biggest U.S. bank by assets. Moynihan took over in 2010, stumbling at first with the gargantuan task of…