August 7, 2009 / 2:28 AM / 9 years ago

Job status of a top B of A exec unclear-reports

NEW YORK, Aug 6 (Reuters) - The job status of Keith Banks, the Bank of America Corp (BAC.N) executive in charge of U.S. Trust and asset manager Columbia Management, was unclear on Thursday, with one published report suggesting he might leave his position and another saying he is leaving.

The Wall Street Journal said Banks told employees this week that he will stay in his job for an undetermined transitional period. Citing people familiar with the situation, the newspaper said Banks did not specifically state that he was leaving the bank.

The Charlotte Observer earlier reported that Banks said this week he will be leaving. It reported that a spokeswoman said Banks will stay for a transition period.

Bank of America, which is based in Charlotte, and Keith Banks could not immediately be reached for comment.

Earlier this week, Bank of America said Daniel Sontag, the head of its brokerage force and a holdover from Merrill Lynch & Co., plans to retire following his own transition period.

Many former top Merrill executives have left since Bank of America acquired the company on Jan. 1.

The developments come in the wake of Bank of America’s naming this week of Sallie Krawcheck, a former head of Sanford C. Bernstein & Co and chief financial officer of Citigroup Inc (C.N), as head of global wealth and investment management, a title Banks used to hold.

Banks is now head of global private client, institutional and investment management, which includes U.S. Trust, Columbia and a couple of other businesses. Bank of America is trying to sell Columbia. (Reporting by Jonathan Stempel; Editing by Dhara Ranasinghe)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below