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 In order to "position a number of senior executives to compete" to succeed him "at the appropriate time," Bank of America Corp. (NYSE:BAC) chief executive Ken Lewis announced several management moves.He brought in former Citigroup Inc. (NYSE:C) chief financial officer and global head of wealth management Sallie Krawcheck to run BofA's global wealth and investment management operations. She takes the role from Brian Moynihan, who was promoted to head of consumer banking. Ric Struthers will continue to run the credit card business and be a member of the executive management team, reporting to Moynihan. Bringing in a heavyweight like Krawcheck, 44, eases the sting BofA felt -- and is still feeling -- as many high-profile bankers headed for the exit after the bank acquired Merrill Lynch & Co. on Jan. 1. BofA chief Lewis is still taking flack over bonuses relating to the deal, most recently having to pay a $33 million settlement to the SEC. On with the moves. Tom Montag, who runs global markets for BofA, also becomes head of global corporate and investment banking. David Darnell, head of global commercial banking, will now report directly to Lewis and also joins the executive team. And 19-year veteran Liam McGee, who headed the consumer and small business banking, is leaving BofA. He said in a statement, "This is an ideal time for me to begin the next chapter of my career and to pursue my goal of running a company." Also, directors William Barnet III, Gary Countryman and John Collins left the board. Barnet is chairman, president and CEO of the real estate investment firm Barnet Co. and mayor of Spartanburg, S.C. Countryman is chairman emeritus and director at Boston's Liberty Mutual Group, and Collins is CEO of Boston-based venture capital firm Collins Group Inc. BofA noted that those continuing on the executive management team include chief administrative officer Steele Alphin, chief risk officer Greg Curl, president of home loans and insurance Barbara Desoer, chief marketing officer Anne Finucane and chief financial officer Joe Price. Lewis said in a release announcing the moves, "We are working hard to get through our credit issues, and to maintain and even enhance our earning power." - Baz Hiralal See the announcement from BofA
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