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Sambol to Lead BofA Mortgage Business

Stock quotes in this article: BAC , CFC  

Bank of America (BAC Quote) on Friday said Countrywide Financial(CFC Quote) COO David Sambol will run a combined consumer mortgage business once the bank's planned acquisition of the struggling mortgage lender is complete.

Sambol, who has been at Countrywide since 1985, will continue in his current role reporting to CEO Angelo Mozilo until the $4 billion merger closes. That is expected in the third quarter.

Additionally, Bruce Hammonds will assume the newly created role of global consumer credit executive when the purchase closes, Bank of America said. Hammonds came to the bank in 2006, when it bought MBNA. ...

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