Bank of America's Harry McMahon, executive vice chairman of the firm's investment bank and a three-decade veteran of Merrill Lynch, has resigned.

McMahon, 61, intends to pursue opportunities outside of banking including non-profit work in education and health care, according to a Feb. 25 memo from Chief Operating Officer Thomas Montag. McMahon joined Merrill Lynch in 1983 and advised on more than 300 transactions during his career, according to a 2009 memo detailing his promotion to executive vice chairman.

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