Bank of America named Brian Moynihan as its next chief executive late on Wednesday, keeping the job within the company and disappointing institutional shareholders who had been agitating for a change in leadership. The appointment of Moynihan, 50, ends a fraught 11-week search that involved several high-profile candidates and exposed a rift between board members who wanted to promote an insider and directors who wanted an outsider to replace CEO Ken Lewis, who retires shortly.

This entry was posted by Gwen Robinson on Thursday, December 17th, 2009 at 5:27 and is featured in The 6am Cut London (17 Dec 2009) . Tagged with BofAML. Edit this entry.