In The Black: Vault's Finance Careers Blog
See Ya, Charlotte: BofA's New CEO Might Reside on the Upper East Side, Not Down South
Bank of America’s board of directors has removed the “must be willing to relocate to Charlotte” portion of its CEO job listing, indicating that the firm is considering shifting its headquarters out of North Carolina (and into New York). It also indicates that the board is having a rough time trying to convince any executive worthy enough for the BofA chief executive post (a.k.a. willing to take over the mess that Kenny Lewis is leaving behind) to set up shop down south.
Irrespective of where the bank's new chief wants to roll out his or her Persians, it does make darn good sense that BofA would move up the coast, considering that its better half, Merrill Lynch, is headquartered in Manhattan, and only 5 percent of BofA's staff worldwide now works out of Charlotte.
In The Black: Vault's Finance Careers Blog
About the Author
Derek Loosvelt is Vault's global finance editor. He has a BS in economics from the Wharton School at the University of Pennsylvania and an MFA in creative writing from the New School. His writing has appeared in various publications, including Brill's Content, Inside.com, Paper magazine and the Independent Film & Video Monthly. Previously, he worked in investment banking for CIBC and Duff & Phelps.
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