BofA Promotes Montag, Darnell as Krawcheck, Price Depart
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Bank of America Corp., seeking to reverse a 48 percent share slide this year, named Tom Montag and David Darnell as co-chief operating officers and ousted Sallie Krawcheck and Joseph Price from its management ranks.
The latest top-level shakeup by Chief Executive Officer Brian T. Moynihan, 51, leaves Montag running investment banking and operations that serve companies and institutional clients, the Charlotte, North Carolina-based company said in a statement today. Darnell will run units serving individual customers, including deposits, wealth management, credit cards, small businesses, and mortgage operations.