Corzine Still in Mix for BofA CEO Post

CHARLOTTE, N.C. (TheStreet) -- New Jersey Governor Jon Corzine is not yet out of the running for the top job at Bank of America(BAC Quote), according to a source familiar with the CEO search.

The source who spoke to TheStreet.com was not authorized to speak directly for BofA, but works for the bank. Corzine's name has been whispered within the top ranks for weeks, the source said. The Democratic governor's staff also "indicated that there might be some interest being shown," he said.

On Thursday, Corzine downplayed speculation that he was actively pursuing the role of CEO at BofA, saying: "I can confirm I have not spoken with them." He added that he hadn't "given ... a great deal of thought" to what he would do after leaving Trenton.

Corzine chose his words carefully, according to the source, because he has not spoken directly with the bank himself. His aides, however, are believed to have been in discussions with the board since shortly after his election loss.

LECG's Stanley Fortgang, who worked closely with Corzine at Goldman Sachs(GS Quote) for 10 years, also says he believes his friend and former colleague has been approached.

"I do believe they approached him," says Fortgang, who hasn't spoken directly with Corzine about the offer, but is familiar with his character and runs in the same circles. "I think he's tempted to take it and would be temped to take it...He would find enticing and challenging, given the right circumstances."

Corzine's Washington relationships would be immensely useful in running BofA, which is weighed down by a $45 billion taxpayer investment and closely scrutinized by regulators. The Democratic governor was elected as governor in 2005 and was the Garden State's freshman senator for five years before that.