BofA's Ken Lewis to retire at year's end

After more than 12 months on the hot seat, Bank of America Corp.'s (NYSE:BAC) CEO and president Ken Lewis announced that he will retire at year's end. The news, released on Wednesday after market close, will mark the end of the 62-year-old Lewis' career at the bank he joined in 1969; he has been CEO since 2001.  

The bank has not named a successor to replace Lewis, who will also retire as a director.

Lewis' departure is unlikely to quell all the pressure on BofA regarding its controversial acquisition of Merrill Lynch & Co. in January, which has spurred a laundry list of investigations, lawsuits and other problems. - George White

See Bank of America-Merrill Lynch Dealwatch

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