Bank of America Corp (BAC.N) Chief Executive Brian Moynihan has been at the helm for more than a decade, having guided the bank out of a financial crisis and transformed it into a nimbler operation.
Moynihan, 61, now faces a different kind of challenge: figuring out who would be best to replace him and subtly marketing that person to the world without alienating other senior executives.
Last year, Bank of America promoted eight next-generation executives to senior management. Any of the 23 people on that team could, in theory, be the next CEO, though recruiters and insiders pointed to a handful as more likely than others. Two external candidates could be in the running too. Here they are:
Dean Athanasia, president of consumer and small business.
Andy Seig, president of Merrill Lynch Wealth Management.
Cathy Bessant, chief operations and technology officer.
Steve Boland, president of retail.
Raul Anaya, president of business banking.
Alastair Borthwick, president of global commercial banking and head of wholesale credit.
Jim DeMare, head of global markets.
Mike Lyons, head of corporate and institutional banking at PNC Financial Services (PNC.N).
Mark Chancy, formerly of SunTrust Banks Inc and now a Wells Fargo & Co (WFC.N) director.
Others who were front-runners in past management shuffles are now likely too old to become CEO when Moynihan retires, the recruiters and insiders said.