BofA Nears Decision on CEO; Barclays Chief Drops Out

Bank of America is likely just weeks away from selecting a new chief executive officer, but it won't be Barclays' CEO Robert Diamond, CNBC has learned.

A Bank of America branch.
Nell Redmond
A Bank of America branch.

The bank has been poring through candidates to replace outgoing CEO Ken Lewis, who is stepping down at the end of the year.

Diamond has told BofA that he wishes to be taken out of the running.

That reduces the field to the final four or five names, with the two remaining in-house candidates thought to be Brian Moynihan, the president of consumer and small business banking; and Greg Curl, BofA's chief risk officer.

While some board members wanted to keep the process internal to help preserve continuity, investors have demanded the company focus on getting the best candidate regardless of their ties to BofA.