That Bank of America Corp.'s (NYSE:BAC) chief risk officer Amy Woods Brinkley is leaving is no surprise. BofA shareholders and federal regulators have been lobbying for an overhaul of the board and management for weeks. Brinkley follows board members O. Temple Sloan and Robert Tillman out the door, and chief executive Ken Lewis was
voted off the board by shareholders in April. More departures are expected in coming weeks.
What is somewhat unexpected is that the bank chose to replace Brinkley with a long-time
BofA dealmaker. Gregory Curl is a 31-year BofA veteran who has served in several corporate development roles since 1997. Most recently he headed up global corporate strategic development and planning.
His appointment as the top executive managing risk may not placate
angry shareholders who charge BofA has in the past few years acquired too much risk. Not only is Curl a BofA insider, he's been a close adviser to Lewis on dozens of acquisitions, and was lead negotiator on the deal to acquire Merrill Lynch & Co.
Curl takes over on June 30, and Brinkley will remain at BofA until her retirement this summer. -
Suzanne Stevens
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