BUSINESS BRIEFING / BANKING
Times Wire Reports
In its regular meeting, Bank of America Corp.’s board of directors decided to leave Chairman and Chief Executive Kenneth D. Lewis in charge of the company as it tries to absorb the operations and losses of Merrill Lynch & Co.
Analysts and investors had speculated that Lewis, 61, might be ousted after leading acquisitions of Countrywide Financial Corp. and Merrill Lynch in the middle of the credit crisis. Merrill’s bigger-than-expected $15.3-billion quarterly loss had prompted some investors to call for his dismissal.
