Bank of America top lawyer Lynch moving to advisory role: WSJ
Reuters
Published Jul 24, 2015 01:52PM ET
Bank of America top lawyer Lynch moving to advisory role: WSJ
NEW YORK (Reuters) - Bank of America Corp (N:BAC) has been interviewing possible successors to Gary Lynch, the company's general counsel, who will move into a more advisory role, the Wall Street Journal reported on Friday.
Lynch, who turns 65 on Saturday, added the title of vice chairman this week. A former enforcement chief at the U.S. Securities and Exchange Commission, Lynch was hired in 2011 to oversee Bank of America's legal issues stemming from the 2008 financial crisis.
Lynch supervised Bank of America's $16.5 billion deal with the U.S. Department of Justice last August to end investigations into misconduct in the pooling and sale of mortgages in the run-up to the financial crisis.
Lawrence Grayson, a spokesman for Bank of America, declined to comment.
News of Lynch's transition comes days after the bank said it would replace its chief financial officer and other top executives in a management shakeup.
Bank of America is the second-biggest U.S. bank by assets.
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Written By: Reuters
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