Bank of America's Curl to Lose Risk Post

Gregory Curl, passed over for the top job at Bank of America, will probably leave the bank after an unspecified period of time, a report says.
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CHARLOTTE, N.C. (

TheStreet

) --

Bank of America's

(BAC) - Get Report

Gregory Curl is expected to lose his job as chief risk officer as new CEO Brian Moynihan shuffles management at the bank, a report says.

Curl's new duties likely will include managing certain relationships, but he probably will leave Bank of America after an unspecified period of time, people close to him say, the

Wall Street Journal

reports. Curl has held the post of chief risk officer since mid-2009.

Bank of America tapped Moynihan as CEO on Jan. 1, passing over Curl as the successor to Ken Lewis.

Moynihan is expected to reorganize Bank of America's top management soon, with an announcement likely on who will replace Moynihan as head of the bank's consumer-banking operations, the

Journal

reports.

Separately, the

Securities and Exchange Commission

has expanded charges against Bank of America for failing to disclose big losses at Merrill Lynch prior to the bank's acquisition of the brokerage firm.

The SEC said it wouldn't file charges against any individual Bank of America executives, directors, or attorneys, because no evidence was found they sought to mislead shareholders.

-- Written by Joseph Woelfel in New York.

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