Bank of America (BAC $7.37 +0.33) CEO Brian Moynihan announced a reorganization of the company's management that aligns the company's operating units with its three core customer groups: individuals, companies, and institutional investors.
Moynihan appointed David Darnell and Tom Montag to the newly-created positions of co-chief operating officers, accountable for all of the co's operating units. This reorganization is effective immediately.
Darnell is responsible for those businesses serving individual customers and clients including deposit, card, home mortgage, wealth management, small business, and related products and services. Joe Price, president of Global Consumer and Small Business Banking, and Sallie Krawcheck, president of Global Wealth and Investment Management, will leave the company.






