Getting your player ready...
NEW YORK — Bank of America named retail banking head Brian Moynihan to replace chief executive Ken Lewis on Jan. 1.
Moynihan, 50, joined the bank as part of its 2004 purchase of FleetBoston Financial.
The pick of an internal candidate Wednesday followed a months-long search and unsuccessful attempts to hire a star industry executive for the top job. The negotiations were complicated by pay restrictions imposed by White House pay czar Kenneth Feinberg before the bank repaid $45 billion of federal bailout loans needed to prevent its failure over the past year.
