Where is Ken Lewis now?
Now: Retired Since retiring from Bank of America in late 2009 shortly after angry shareholders voted to take away his chairman title, Lewis has largely stayed on the sidelines. Recently, he joined the board of a movie production company that is attempting to make BofA’s hometown of Charlotte, N.C. a movie hub.
Who is Ken Lewis?
While CEO of Bank of America, Lewis was noted for purchasing Countrywide Financial and Merrill Lynch resulting in large losses for the bank and necessitating financial assistance from the federal government….
|Occupation||Former CEO, President, and Chairman of Bank of America|
When did Ken Lewis leave Bank of America?
Lewis left the bank in 2009, while the bank settled an investor suit for $2.43 billion in 2012 over claims that it mislead its shareholders about the financial health of Merrill Lynch, it also settled with the Securities and Exchange Commission in 2010 for $150 million over failing to disclose information about Merrill …
Who was the CEO of Bank of America before Brian Moynihan?
After Bank of America acquired Fleet, he became a key adviser to his immediate predecessor, Ken Lewis, during the 2008 crisis and served as general counsel. One of Mr. Moynihan’s most important early backers was Warren E.
What banks did Bank of America buy?
As the global financial crisis emerged in 2008, numerous institutions began to struggle, notably Countrywide Financial, the largest American mortgage lender, and Merrill Lynch & Co., Inc. That year Bank of America bought both companies, and the acquisitions proved costly.
How much does the Bank of America CEO make?
Bank of America CEO Brian Moynihan had his 2021 compensation boosted by $7.5 million, the bank’s board of directors said in a securities filing late Friday. The Boston-based chief executive was awarded $32 million in total compensation in 2021, compared to $24.5 million the year prior, an increase of about 31%.
Is Countrywide still in business?
On July 1, 2008, Bank of America Corporation completed its purchase of Countrywide Financial Corporation. In 1997, Countrywide had spun off Countrywide Mortgage Investment as an independent company called IndyMac Bank.