BoA Reorganizes 2 Global Units

Bank of America Corp., Charlotte, N.C., has announced a reorganization of two global business segments that it says will enable it to better serve the needs of investors in residential mortgages, car loans, commercial credits, and other products.Under the reorganization, the bank's Global Business & Financial Services segment and its Global Capital Markets & Investment Banking segment will be combined into the Global Corporate & Investment Banking business, BoA said. Gene Taylor, who heads Global Business & Financial Services, will become the executive in charge of the combined business and has been named vice chairman of BoA, the company said. In addition, Alvaro G. de Molina has been named chief executive officer of Banc of America Securities. "We are bringing together in one group all the products and distribution teams that serve all businesses from smaller businesses to the largest multinational corporations," said Kenneth D. Lewis, chairman and CEO of BoA. The company can be found online at http://www.bankofamerica.com.