New life for Bank of America CEO search?
The conventional wisdom seems to be that the near-disastrous search for a Bank of America (BAC) CEO may be given a shot of adrenalin by the news that the bank will repay its TARP obligation. It's no secret that the several outside candidates who spurned the board's search committee made the bank's TARP status an issue. No one wants their pay to be subject to government approval. So we might see some outsiders reconsider.
The Financial Times also notes that the chances of internal candidates Greg Curl and Brian Moynihan may have also improved. Curl was the lead negotiator with the Fed on the TARP repayment. While Moynihan has been active in Washington too, he's also faced some tough questioning in hot hearings, the FT reports that "the internal consensus at Bank of America is that Curl is the clear front-runner for the top job."
- here's the article
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