Bank of America changed its wealth management leadership in one fell swoop Tuesday evening when it announced the departure of top wealth management executive Sallie Krawcheck, a move that may actually point to a deeper commitment to the Merrill Lynch business.
Krawcheck’s departure comes just two years after she joined Bank of America in 2009 following executive roles at Citigroup and Sanford Bernstein. Despite a spate of bad news that has battered Bank of America in the last month, from mortgage woes to a sinking stock price, its Merrill Lynch wealth management business has continued to perform.
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