Ken Lewis Says Many Top Execs Could Replace Him


This morning’s Journal profile of Brian Moynihan kicked off discussion about Ken Lewis successor as the CEO of Bank of America.

So what’s Lewis got to say?

Here’s what he told Fox Business

“He absolutely could be, as well as several others on the management team. I think the world of Brian. He’s outstanding. He’s got so much talent. He’s so bright. But, we have a lot of people on my management team that would fit that description as well.”

As for the controversial Merrill acquisition, he’s sticking with what he’s told other interviews.

This [Merrill Lynch] is a very important acquisition for Bank of America and you should judge that over three to five years. But, the point is we haven’t even reported earnings for the three months yet. And so, it seems to me that it’s just a little premature to make a judgment on such a short time frame.” “From an overall standpoint, we are very, very pleased that Merrill Lynch has been a part of our company during the first quarter. The timing could not have been better.

A number of deals – you mentioned Pfizer and Wyeth, Dow Chemical, that deal we were involved in, the homebuilder deal you mentioned we were involved in. And so, you take the investment banking activity in addition to a lot of debt capital being raised that we participated in and then plus the capital markets activities – it has really been a boost to revenue for Bank of America.”

View the whole video of the interview here.


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