GO
Loading...

Enter multiple symbols separated by commas

Bank Of America CFO Resigns

Bank of America shares fell after Chief Financial Officer Alvaro G. de Molina announced he will retire at the end of the year. He will be suceeded by fellow executive Joe Price.

The announcement came just 15 months after de Molina was named to the position. No reason was given for his decisions to leave the bank.

"We've made good progress in the way we communicate with investors and analysts, and Al's work has directly benefited our company and shareholders," Chairman and Chief Executive Kenneth D. Lewis said in a statement. "He has made this a better place in many ways, and we wish him well."

Price currently is an executive in the bank's global corporate and investment banking division.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • Hero miles for military members: Real estate magnate's plea

    Chairman of the Fisher House Foundation, Ken Fisher, discusses the Hero Miles program with CNBC's Dina Gusovsky. During Military Appreciation Month, Fisher is asking every traveler to donate 1,000 of their miles to replenish the Hero Miles programs that is in danger of running out.

  • Cramer shuts down this market's haters

    "Mad Money" host Jim Cramer on why this market can't stop, won't stop.

  • From the battlefield to the boardroom

    Your Grateful Nation is dedicated to helping Special Forces veterans enter the corporate world and Knot Standard provides complimentary suits to vets. Mad Money's Jim Cramer spoke with Rob Clapper, Your Grateful executive director; John Ballay, Knot Standard co-founder and president; Tej Gill, retired U.S. Navy Seal; and Darren McB, active duty U.S. Navy Seal.