A succession plan after all?

November 12, 2009 | By Jim Kim

"I get tired of hearing we didn't have a succession plan," Temple Sloan , the former lead director at Bank of America tells Bloomberg. "I had the list and we discussed it every month. There has always been a succession plan. You can't run a company the size of Bank of America without a plan."

The problem, of course, is that the plan most likely governed the process by which an internal candidate would assume the top spot. Sloan says he still favors Brian Moynihan, the pride of the Fleet contingent, or Barbara Desoer, who heads home loans. She may be re-emerging as a candidate, alongside Moynihan and Greg Curl, the chief risk officer.

Still, it seems like the board is doing what it can to attract a top outsider. The pickings, however, are slim. Bank of New York Mellon CEO Robert Kelly, as we all know, has said he's not interested. Charles Scharf, of JPMorgan Chase, has been contacted, Bloomberg reports.

For more:
- here's the article