Bank of America CEO search narrows

Posted by Zack Smith - email

Charlotte, NC (WBTV) - Bank of America's search for a new CEO has apparently narrowed to two internal candidates.

The bank's six-member CEO transition team has been meeting all week, trying to find a successor for Ken Lewis.  Lewis announced last week he would retire December 31st.

The Wall Street Journal reports the new CEO is likely to be one of two current executives at the bank -- Brian Moynihan and Gregory Curl.

Curl is the bank's chief risk officer.  Moynihan is the head of consumer banking.

WSJ reports Curl would likely be a short-term successor, keeping the CEO seat for two years, maximum.  Moynihan, on the other hand, would likely be a permanent presence.

Whoever the new CEO is, he will inhert a slew of problems including six different state and federal investigations over the much-criticized purchase of Merrill Lynch.