Bank of America appoints a new GC amidst the conviction of leadership

(Reuters) – Bank of America Corp. has appointed a new global attorney general as part of a broader list of leadership changes announced Friday.

Lauren Mogensen, recently responsible for global compliance and operational risk at the bank, will take on David Leitch’s top legal role later this year. Leitch, a partner at Hogan & Hartson (now Hogan Lovells) and a former deputy attorney for President George W. Bush, was recruited to Bank of America six years ago by Ford Motor Co. He will retire next year, the bank said.

Bank of America President and CEO Brian Moynihan said in a statement that he had asked Leitch to serve as vice president until his retirement, “providing his expert oversight on key issues and priorities of our management team.” .

The transition in legal leadership comes as part of a broader mix that will bring five new executives to join the bank’s management team. They include Alastair Borthwick as CFO, Holly O’Neill as president of retail banking and Wendy Stewart as president of global consumer banking.

The new management team will continue to serve under the direction of Moynihan, who signaled his plans to remain at the helm of the bank until the end of the decade.

“As we focus on the path we have ahead of us and what it requires, and individuals decide they are ready to make the transition and / or retire, we can promote and expand business partners, leading to new opportunities, smooth transitions and a continuous boost, ”Moynihan said in Friday’s announcement.

The recently named GC Mogensen has long been a Moynihan teammate. They worked together at FleetBoston Financial before Bank of America acquired the Massachusetts-based bank in 2004. Mogensen joined FleetBoston in 2001 as general manager of mergers and acquisitions, while Moynihan joined the bank in 1993 as Deputy General Counsel.

During her long tenure at BofA, Mogensen has served as an assistant attorney general and as a legal executive in various areas of the company, including as corporate secretary. In his most recent role as head of global compliance and operational risk, he has worked directly with global regulators, oversight institutions and governing committees, along with the company’s board of directors, the bank said.

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