Bank of America ( BAC), the nation's No. 2 bank, is getting a new chief financial officer.

The Charlotte, N.C.-based lender announced Thursday that Alvaro G. de Molina, the CEO of the bank's securities division, will replace Mark Oken as CFO. Oken, who has been with BofA for 16 years, is retiring.

Before becoming the CEO of Banc of America Securities, Molina was the bank's corporate treasurer. Mark Werner, another top bank executive, will take over the top job at the securities division.

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