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BANK OF AMERICA CORPORATION

(BAC)
  Report
Delayed Nyse  -  04:00 2022-09-23 pm EDT
31.73 USD   -2.37%
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Bank of America Announces Management Changes

09/13/2021 EDT

Bank of America has appointed a new chief financial officer as part of a broader shake-up of its management team. Among the women promoted to the top management team is Lauren Mogensen, who was named global general counsel. She had been head of compliance and operational risk, where she had been working with regulators around the world. Mogensen will replace David Leitch, who Moynihan recruited six years ago to be the company's top attorney. Leitch plans to retire next year. Moynihan also promoted Holly O'Neill to president of retail banking. O'Neill had been chief client care executive and head of consumer client services where she oversaw the bank's contact centers. Wendy Stewart was promoted to president of global commercial banking. Stewart had been co-running the commercial banking business in the southeast and was overseeing the wholesale credit strategy. Katy Knox will also be on BofA's management team and remain in her role as president of the private bank. Moynihan also promoted Cathy Bessant to become vice chair of global strategy. Bessant, who had been the chief technology and operations officer, will relocate to Paris where she will work with the company's boards in Europe. Aditya Bhasin will become the new chief technology and information officer. Bhasin had been in charge of the online and mobile banking apps, along with payments and commerce services as chief information officer. Tom Scrivener was named chief operations executive, where he will in part be overseeing forgiveness of Paycheck Protection Program efforts. He has held a number of positions at the bank, including being charged with running the Comprehensive Capital Analysis and Review stress tests. Along with Borthwick, Bhasin and Scrivener, a handful of executives will also be new reports to Moynihan, including Matthew Koder, the president of global corporate and investment banking; Jim DeMare, president of global markets and global commercial real estate; Bernie Mensah, CEO of Merrill Lynch International; Steve Boland, who was named chief administrative officer and will oversee the market presidents; and Bruce Thompson, vice chair of wholesale credit.


© S&P Capital IQ 2021
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Financials (USD)
Sales 2022 93 685 M - -
Net income 2022 26 129 M - -
Net Debt 2022 - - -
P/E ratio 2022 9,94x
Yield 2022 2,72%
Capitalization 255 B 255 B -
Capi. / Sales 2022 2,72x
Capi. / Sales 2023 2,49x
Nbr of Employees 210 000
Free-Float 99,9%
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Technical analysis trends BANK OF AMERICA CORPORATION
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Mean consensus OUTPERFORM
Number of Analysts 26
Last Close Price 31,73 $
Average target price 41,70 $
Spread / Average Target 31,4%
EPS Revisions
Managers and Directors
Brian T. Moynihan Chairman, President & Chief Executive Officer
Alastair Borthwick Chief Financial Officer
Catherine P. Bessant President-Consumer Real Estate & Community Banking
Steve D. Boland Chief Administrative Officer
Frank P. Bramble Independent Director
Sector and Competitors
1st jan.Capi. (M$)
BANK OF AMERICA CORPORATION-26.95%254 958