Bank of America Executive Change

Bank of America today announced the Global Banking, Securities and Wealth Management leadership team that will be in place once the combination with Merrill Lynch & Co. is complete.

Greg Fleming, currently president and chief operating officer of Merrill Lynch, will head Global Corporate and Investment Banking, which will include commercial banking. He will operate from New York. David Darnell, currently president of Global
Commercial Banking, will continue as head of Global Commercial Banking reporting to Fleming. He will operate from Charlotte.

Tom Montag, currently global head of Sales and Trading at Merrill Lynch, will be head of Global Markets which includes sales, trading and research. He will operate from New York. Capital Markets will report to both Montag and Fleming.

Peter Kraus, executive vice president of Global Strategy at Merrill Lynch, has decided to leave the company after the merger to pursue other opportunities. "While at Merrill Lynch Peter provided valuable insight and advice to me and the team. We know he will be successful in whatever he pursues and wish him well," Thain said.

Keith Banks, president of Global Wealth and Investment Management at Bank of America, will be head of U.S. Trust and Columbia Management. He will operate from New York.

Bob McCann, vice chairman and president, Global Wealth Management at Merrill Lynch, will be head of the combined financial advisor organization. He will operate from New York.

The leader of Global Wealth and Investment Management will be determined in the future as the company works to define the target environment through the transition process.

Cathy Bessant, president of Global Product Solutions at Bank of America, will be head of Global Product Solutions for the combined companies. She will operate from Charlotte.

Jim Kelly, Business Executive-Technology and Operations at Bank of America, will head technology and operations support for all of Thain's businesses. He will operate from Charlotte.

"With these talented individuals and others who will be announced as we move forward I am more than ever convinced that we will be the world's premier financial services company," Thain said.