NEW YORK (CNNMoney) -- Bank of America is reshaping its management team, and two big Wall Street names are out.
The company will continue on without two honchos: Joe Price, the president of consumer and small-business banking, and Sallie Krawcheck, president of wealth and investment management.
The reorganization "aligns .... with [the company's] three core customer groups: individuals, companies and institutional investors," Bank of America (BAC, Fortune 500) said late Tuesday.
The move comes just weeks after BofA announced it would lay off 3,500 employees. That's on top of the 2,500 layoffs that the company announced earlier this year.
1 comment:
I'd be interested to know what kind of golden parachute they received on the way out!
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