BofA Nabs Former SEC Exec

Bank of America (BofA) has announced a series of appointments to its executive team. It has hired Gary Lynch, a former director of enforcement at the SEC, to head the bank’s legal, compliance and regulatory relations. General counsel Ed O”Keefe will now report to Lynch.

Lynch, 60, joins BofA from Morgan Stanley, where he served as vice chairman and chief legal officer. He previously held senior leadership positions at Credit Suisse First Boston. 

While at the SEC, Lynch brought cases against Ivan Boesky, a stock trader who was later charged in 1986 with illegal stock manipulation based on insider information. In 1989 Lynch was also involved in the prosecution of Michael Milken, a philanthropist and financier, who was later indicted on 98 counts of racketeering and securities fraud. 

Lynch’s hire is part of a management shake-up by Brian Moynihan, chief executive officer. Moynihan has also promoted Bruce Thompson to chief financial officer, replacing Chuck Noski, who will become the bank”s vice chairman by the end of the second quarter. 

During his tenure as chief risk officer, Thompson oversaw the development and implementation of the company”s enterprise risk framework and improved the international risk governance programs. Prior to that role, Thompson was head of global capital markets at BofA Merrill Lynch. He has also served as co-head of global credit products and head of global leveraged finance.