Bank Of America Names New CFO

Bank of America Corp named outsider Charles Noski its next chief financial officer, filling a key position that has been vacant for months, the largest U.S. bank by assets said on Wednesday. Noski, 57, who will become CFO on May 11, most recently was chief financial officer of Northrop Grumman Corp, a defense contractor. He left Northrop in 2005.

Noski was also the chief financial officer of the telecommunications giant AT&T from 1999 to 2002. His appointment is the latest in an ongoing reshuffle of the bank's senior management ranks, begun in January by new Chief Executive Brian Moynihan. Noski's departure also leaves a void on Morgan Stanley's board, where he served as chairman of the company's audit committee -- a key board position. Noski is also chairman of Microsoft's audit committee, and will remain in that post.

BofA's former CFO Joseph Price now heads the bank's consumer, small business and credit card units. The bank's interim CFO, Neil Cotty, will re assume his responsibilities as chief accounting officer. Cotty has served in the post since January, when Moynihan announced an executive management team overhaul that moved Price from the CFO role.

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