News

McQuade leaving BofA president's post

May 26, 2004

CHARLOTTE, N.C. - Eugene McQuade, president of Bank of America Corp., plans to resign from the company and its board effective June 30.

McQuade joined Bank of America from FleetBoston Financial Corp. following their $48 billion merger in April.

McQuade joined Fleet in 1992 and was named chief financial officer in 1993. He rose to vice chairman in 1997 and became president and chief operating officer in 2002.

Ken Lewis, BofA's chief executive, said that McQuade "told me that he was pleased and excited with the progress we had made in bringing Bank of America and Fleet together, but that he felt it was time to pursue different challenges and a new chapter in his career."

Bank of America serves customers with 16,500 ATMs and 5,700 branches in 29 states.