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Bank of America's logo from 1969 to 1998 Bank of America Tower, headquarters for Bank of America's investment banking operations, seen from Bryant Park in Midtown Manhattan, in 2015 Following passage of the Bank Holding Company Act of 1956 by the U.S. Congress , [ 24 ] BankAmerica Corporation was established for the purpose of owning and ...
At that time, he remained CEO and chair of Bank of America's board. Moynihan stated he planned on remaining CEO for years. [23] In 2023, Moynihan's total compensation from Bank of America was $27.8 million, representing a CEO-to-median worker pay ratio of 230-to-1. [24] Moynihan is a fellow at Brown University, serving from 2016 to 2027. [25]
She also managed Bank of America's home equity business and oversaw a leading insurance service organization. Desoer assumed her role in mid-2008 when she was asked to lead the integration of Countrywide Financial Corporation, which Bank of America acquired July 1, 2008. She led the April 2009 launch of the Bank of America Home Loans brand.
Hugh L. McColl Jr. (born 18 June 1935) is a former business executive who was the CEO of NationsBank [1] and the former chairman and the first CEO of Bank of America.Active in banking since around 1960, McColl was a driving force behind consolidating a series of progressively larger, mostly Southern banks, thrifts and financial institutions into a super-regional banking force, "the first ocean ...
Lewis became CEO, president and chairman of Bank of America after the retirement of Hugh McColl in 2001. In November 2008, while still CEO, a time when the bank had had to borrow $86 billion from the Federal Reserve, Lewis wrote to shareholders saying that he was at the helm of "one of the strongest and most stable banks in the world".
The company was founded on January 6, 1914, when Charles E. Merrill opened Charles E. Merrill & Co. for business at 7 Wall Street in New York City. [11] A few months later, Merrill's friend, Edmund C. Lynch, joined him, and in 1915 the name was officially changed to Merrill, Lynch & Co. [12] At that time, the firm's name included a comma between Merrill and Lynch, which was dropped in 1938. [13]