Bank of America Adds Flannery for Leveraged Finance
Bank of America Corp., the nation’s second-largest bank, said David Flannery is joining the company as global head of leveraged finance, starting in November.
Flannery had the same title at Deutsche Bank AG, where he has worked since 1992, according to a statement today from Charlotte, North Carolina-based Bank of America. He will report to Bruce Thompson, head of global capital markets, the bank said.
Chief Executive Officer Kenneth Lewis is expanding the corporate and investment bank, affirming his commitment to the unit after losses last year triggered a management shakeup and 650 job cuts. The unit’s profit grew 3.2 percent in the second quarter and writedowns on securities fell to $645 million from $1.47 billion in the first quarter.