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MANAGEMENT
OCTOBER 2, 2009

Bank of America Chief Resigns Under Fire

Lewis to Leave at Year End as Lender Faces New York Probe of Merrill Deal; Fed Up After a Year of Criticism; Successor Unclear

more inManagement »

BY DAN FITZPATRICK AND JOANN S. LUBLIN

After fighting to keep his grip on the bank he helped build from a scrappy Southern outsider to the nation's largest in assets, Bank of America Corp. Chief Executive Kenneth D. Lewis said he will resign by year end.

The 62-year-old Mr. Lewis, who has led the Charlotte, N.C., bank since 2001, notified the board of his decision Wednesday. A person close to him says Mr. Lewis was fed up with the criticism that haunted him following the takeover of Merrill Lynch & Co. The board had told Mr. Lewis it wanted to know how long he planned to stay. ...

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