When news filtered out that Bank of America CEO (NYSE: BAC) did not plan to relocate to Charlotte, as many in the hometown of the big bank were hoping, it raised some brows. Brian Moynihan (Brian Moynihan news) cited his personal roots back in Massachusetts, and most of us can sympathize with anyone declining to uproot their families, especially with kids in high school. But the question has been asked: Can you run a complex organization remotely? Few doubt that this is possible. And Moynihan's not the first CEO to live outside the company's hometown.

The Charlotte Observer reports that Moynihan, 50, "spends about one-half to two-thirds of his work time in Charlotte and New York. The rest of the time, he's visiting cities in other Bank of America markets. His Charlotte appearances since taking over Jan. 1 have included management meetings, shareholders meetings, employee town halls, a United Way event and a reception at Bank of America Stadium." Just recently, he paid a visit to the bank's card operations in Chester, near Liverpool. It's fair to say he'd be on the road a lot no matter where he lived.

For more:
- here's the Charlotte Observer article

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