BoA Merrill's Lewis to retire at end of year
Bank of America's chief executive Ken Lewis, who has been at the helm of the Charlotte-based firm since 2001, will leave the bank on December 31.
As chief executive, Lewis oversaw the acquisitions of Merrill Lynch and Countrywide, which were completed in January and July 2008 respectively.
Under Lewis's leadership, the bank also underwent the US government's stress tests (which found the bank needed to increase Tier I common capital by $33.9 billion) and borrowed $45 billion from the Troubled
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