BofA appoints co-presidents as CEO says he will serve through the decade

Written by Lananh Nguyen, Ateev Bhandari and Saeed Azhar

New York (Reuters)-Bank of America, Dean of Athanasia and Jim Demari, appointed participating on Friday, indicating that the second largest American lender is the potential caliphs of CEO Brian Mounehan.

Financial Director Alexa Portoic, Executive Vice president, was appointed.

“In their new roles as a co -chair, a debt and a gym will work with me to lead widespread strategic efforts that are essential in our long -term performance,” Mouinhan said in a joint message with the employees.

However, Moinhan, 65, has strengthened his commitment to leading the company at the end of the contract. The CEO is one of the longest industry leaders. He took control in 2010 after a turbulent succession, as he directed the bank’s transformation after the 2008 financial crisis.

“It is good that you want to continue as an executive head for another five years, but there is an increasing pressure to improve performance and stock price,” said Mike Mayo, Wales Fargo.

He said that the fields that need improvement include companies, investment bank, private bank and Mier Linch.

BOFA shares increased by 15 % year on an annual basis, and they failed to increase 28 % in the competitive JPMorgan Chase shares. The S&P Bank has gained 20 % so far this year.

Investors are also closely monitoring when JPMorgan Jimmy Damon’s CEO after he headed the largest American bank for more than 19 years.

Triple racing

Mayo said, including Burtwick, is now a triple race to become the next CEO of Bofa.

In a letter, Mounehan said that Athanasia, 59, and Demare, 56, will bear a comprehensive responsibility for the company’s business lines, and MYNIHAN will take a message.

“Religion and Jim will increase the ability, density and experience allocated to our higher priorities, and everyone will benefit.”

ATHANASIA Ashraf Ashraf Ashraf was supervised by four of the company’s eight major business lines, including retail banking services, favorite banking services, commercial banking services and global commercial banking services.

Consumer business is still larger than Bofa through revenues, as it represents a share of about 42 % in the second quarter.

The Demare Markets Department is scheduled to publish its fourteenth semester growth in a row in the third quarter. Its revenues increased in the second quarter by 15 %, which helped overcome the quarterly profits.

(He participated in the coverage of Ateev Bhandari in Bangaluru and Lanan Ngwin, Saad Azhar and Tatiana Butzer in New York; edited by Alan Barona, Margareta Choi and Richard Chang)