The meeting is scheduled for 11:30 a.m, CNBC said. Bank of America spokesman Scott Silvestri declined to comment.

Thain became Bank of America's head of global banking, securities and wealth management after it bought Merrill for about $19.4 billion on January 1.

Bank of America threatened to scuttle the merger in December, when it uncovered billions of dollars in losses on Merrill's books.

The bank received $20 billion in government money last week to absorb Merrill, and the government agreed to share in losses on about $118 billion in debt. The bank also said Merrill lost $15.31 billion in the fourth quarter.

After joining Bank of America, Thain became a top candidate to succeed Lewis, who is 61.

Thain also served as CEO of NYSE Euronext , leading to speculation he would not want to remain subordinate to Lewis for long.

Several lawsuits were filed this week against Bank of America over the merger, accusing the bank of failing to disclose the losses sooner.

Bank of America shares were down 94 cents, or 14.1 percent, at $5.74 in morning trading on the New York Stock Exchange.

(Reporting by Elinor Comlay and Jonathan Stempel; editing by Jeffrey Benkoe)