Brian Moynihan has been appointed president of Global Banking and Global Wealth and Investment Management at Charlotte, N.C.-based Bank of America. He replaces John Thain, who is leaving the firm.
Moynihan has been General Counsel of Bank of America. He will occupy that role while the company searches for his replacement. Previous to the merger with Merrill Lynch, Moynihan ran Global Corporate and Investment Banking for Bank of America. Before that, he was President of Global Wealth and Investment Management at the company.
Tom Montag will continue to run Global Markets and will now report to Ken Lewis, Bank of America chairman and chief executive officer. Montag will also become a member of the Management Executive Team, which sets strategy for the company.