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BofA Top Executive's Future in Doubt: Report

Bank of America's Keith Banks, head of the U.S. Trust and Columbia Management divisions, told employees he would stay in his current job for a transition period, casting doubt on his future, a report says.



) --

Bank of America's

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Keith Banks, head of BofA's private-banking unit U.S. Trust and asset manager Columbia Management, told employees earlier this week he will stay in his current job for an undetermined transitional period, casting doubt on his future, a report says.

Banks didn't specifically state that he's leaving Bank of America, the

Wall Street Journal

reports, citing people familiar with the situation. But his remarks are being interpreted as a sign of another likely shakeup in BofA's top management ranks.

Earlier this week, Daniel Sontag, who has spent more than three decades with BofA's

Merrill Lynch

division, said he is retiring after BofA hired former

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executive Sallie Krawcheck as his boss. His

departure is just the latest

in a months-long string of top executives and brokers leaving because of clashes with BofA's investment banking division, and intense scrutiny from lawmakers and the public.

Banks currently is head of global private client, institutional and investment management.


Charlotte Observer

, meanwhile, reported Thursday that Banks said he was leaving the company. A Bank of America spokeswoman said it was too early to say who will fill out Krawcheck's management team, but she said Banks would remain for a transition period, the newspaper notes.

Bank of America is seeking a buying for the Columbia Management division.

-- Reported by Joseph Woelfel in New York