CHARLOTTE, N.C., June 5 /PRNewswire/ -- The Bank of America Corporation
Board of Directors today elected four new directors.
-- Susan S. Bies, 62, a former member of the Board of Governors of the
Federal Reserve System and former chief financial officer of First
Tennessee National Corporation.
-- William P. Boardman, 67, retired executive of Bank One Corporation and
Visa International, Inc.
-- D. Paul Jones, 66, former chairman and chief executive officer of
Compass Bancshares, Inc.
-- Donald E. Powell, 67, former chairman of the Federal Deposit Insurance
Corporation (FDIC) and former president and chief executive officer of
The First National Bank of Amarillo.
"These new directors bring a wealth of experience in financial services
from a variety of perspectives," said Walter E. Massey, Bank of America
chairman. "Their participation will make our board even stronger as we move
our company toward achieving its true potential."
"I look forward to working with our new board members and taking advantage
of their counsel," added Ken D. Lewis, Bank of America chief executive officer
Bies served as a Governor of the Federal Reserve from 2001 to 2007. During
that time she represented the Federal Reserve in the Financial Stability Forum
and led the Fed's efforts to modernize the Basel capital accord. Previously,
she was chief financial officer, chairman of the asset-liability management
committee and executive vice president of risk management at First Tennessee
National Corporation where she was employed from 1979 through 2001. She is
currently on the board of Zurich Financial Services. From 2007 through 2008,
she was a member of Securities and Exchange Commission's advisory committee on
improving financial reporting and chairman of its substantive complexity
Boardman was chairman of Visa International, Inc. from 1996 until his
retirement in 2005 and also formerly served as a director of both that company
and Visa U.S.A. A native of Columbus, Ohio, he was an executive at Bank One
Corporation from 1984 through 2001, serving at various times as chairman and
chief executive officer of its credit card subsidiary First USA and as vice
chairman of Bank One. He was a director of Bank One Corporation. From 2001
through 2003, he served as a senior advisor on acquisitions and structural
matters primarily related to financial institutions for Goldman Sachs & Co.
Previously, he practiced law in Columbus.
Jones was an executive with Compass Bancshares, Inc. from 1978 through its
acquisition by Spanish bank BBVA in 2007. He served as chairman and chief
executive officer of that Alabama-based banking company from 1991 through
2007. Jones began his career in 1967 with the Birmingham law firm Balch &
Bingham. He is currently Of Counsel to that firm and a member of its Financial
Powell served as chairman of the FDIC from 2001 through 2005. A lifelong
Texan, he started his banking career in 1971 with The First National Bank of
Amarillo and rose to president and chief executive officer. He served as the
federal coordinator of Gulf Coast Rebuilding from 2005 into 2008. He has
served on a number of boards and was previously chairman of the Board of
Regents of the Texas A&M University System. He is currently a director of
Stone Energy Corporation.
Bank of America
Bank of America is one of the world's largest financial institutions,
serving individual consumers, small- and middle-market businesses and large
corporations with a full range of banking, investing, asset management and
other financial and risk management products and services. The company
provides unmatched convenience in the United States, serving approximately 55
million consumer and small business relationships with more than 6,100 retail
banking offices, more than 18,500 ATMs and award-winning online banking with
nearly 30 million active users. Bank of America is among the world's leading
wealth management companies and is a global leader in corporate and investment
banking and trading across a broad range of asset classes serving
corporations, governments, institutions and individuals around the world. Bank
of America offers industry-leading support to more than 4 million small
business owners through a suite of innovative, easy-to-use online products and
services. The company serves clients in more than 150 countries. Bank of
America Corporation stock (NYSE: BAC) is a component of the Dow Jones
Industrial Average and is listed on the New York Stock Exchange.
SOURCE Bank of America Corporation
CONTACT: Investors, Kevin Stitt, +1-704-386-5667, Lee McEntire,
+1-704-388-6780, Grace Yoon, +1-212-449-7323, or Reporters, Eloise Hale,
+1-980-387-0013, email@example.com, all of Bank of America