Bank of America’s Thomas Montag, Head of Global Banking, to Retire at Year-End
- Crisis-era executives plan to vacate posts at end of the year
- Bank says succession plans will be announced in coming weeks
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Bank of America Corp. Chief Operating Officer Thomas Montag and Vice Chairman Anne Finucane -- executives who helped orchestrate the second-largest U.S. bank’s resurrection after the 2008 financial crisis -- plan to retire, clearing the way for a new generation of senior leaders.
Montag, who long led the firm’s massive investment banking operations, and Finucane, who oversaw strategy and initiatives including a push into sustainable finance and investing, will vacate their posts at the end of the year, the company said Thursday. It promised to pick replacements in coming weeks.