Big job hunt: Next CFO of Bank of America

Last month, the CFO (CFO news) job at Bank of America (BAC) opened up, when CEO Brian Moynihan (Brian Moynihan news) shook up his executive team. As part of the changes, then-CFO Joe Price was asked to move over to become the head of consumer banking.

Since then, he's been charged, along with former CEO Ken Lewis (Ken Lewis news), by New York AG Andrew Cuomo (Andrew Cuomo news). His future with the bank is a big question mark at this point. It's quite likely that the lingering controversy that coincided with Price's tenure as CFO prompted Moynihan to want a fresh body in the CFO office.

The financial function has been tainted a bit by the whole Merrill Lynch disclosure (disclosure news) saga.  My guess is that he goes with an outsider, to inject an element of vitality and clean break with the past. The New York Post reports that Moynihan "views finding a new financial wizard and right-hand man as a crucial hire as he takes over the reins from Ken Lewis, and attempts to place his own imprimatur on the bank."  

For more:
- here's the article

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