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Bank Of America Appoints Two New Directors

Bank of America’s Board of Directors today appointed Clayton Rose and Pierre de Weck as new directors. The appointments are effective immediately.

Dr. Rose, 54, is a professor of Management Practice at the Harvard Business School and a former executive of J.P. Morgan & Co., Inc. De Weck, 63, served as Chairman and Global Head of Private Wealth Management of Deutsche Bank and has held senior executive positions at Citicorp and UBS.

“Clayton and Pierre are strong leaders who understand the operations of global financial institutions. Their joining the board enhances the already strong diversity of experience our board contributes to the benefit of shareholders,” said Bank of America Chairman Charles O. Holliday, Jr.

“The management team and I look forward to working with these two experienced leaders," said Bank of America Chief Executive Officer Brian Moynihan.

The appointments bring the number of directors to 15.

Clayton Rose

Dr. Rose is a professor of Management Practice at the Harvard Business School and a former senior executive of J.P. Morgan & Co., Inc. He joined Harvard in 2007; he previously taught strategy at the Graduate School of Business at Columbia University and the Stern School of Business at New York University.

During his approximately 20 years at J.P. Morgan, Dr. Rose headed two of the firm’s five major lines of business - Global Investment Banking and Global Equities – and was a member of the firm’s senior management team. He was a founder of J.P. Morgan’s equities business, and had management roles in various securities, derivative and corporate finance businesses.

Dr. Rose received his Ph.D. in sociology from the University of Pennsylvania. He earned an A.B. and MBA from the University of Chicago, and an M.A. from the University of Pennsylvania. He is a director of XL Group plc and a trustee of the Howard Hughes Medical Institute.

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