BofA’s Moynihan Puts Ex-Colleagues in Strategic Posts
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Bank of America Corp. Chief Executive Officer Brian T. Moynihan, who has promised to change the lender’s culture while retaining most of its senior leadership, has installed three former colleagues at FleetBoston Financial Inc. at influential posts.
Moynihan hired former Fleet strategy head Terry Laughlin as a senior executive at the loss-plagued Countrywide unit. He recruited hedge-fund manager Mike Lyons as a strategy and planning executive to help shrink the bank’s $2.2 trillion balance sheet. Moynihan also promoted Lauren Mogensen to deputy general counsel and corporate secretary, where she intersects with Moynihan and the bank’s board.