Noski Turns over BofA CFO Reins to Thompson

Bank of America Corp. CFO Charles Noski -- named by the giant bank a year ago after a career heading finance at such diverse outfits as Northrop Grumman, AT&T, United Technologies and Hughes Electronics -- by the end of the June quarter.

Thompson, currently BofA's chief risk officer, will remain in the risk role until a successor can be found, the company said.

The 58-year-old , a native Californian, had planned to move to BofA headquarters in Charlotte this year, but it was reported that the illness of a family member prevented him from leaving the West Coast. The bank said Noski would become vice chairman. Noski will continue to advise CEO Brian Moynihan and other managers "on strategic and capital management matters and on the resolution of legacy issues, including helping to shape the consumer mortgage model going forward," the company said, and he will also deal with client development activities as needed.

"We value Chuck's judgment, counsel, and experience," Moynihan said in a statement. "I am very pleased he has accepted this leadership position, which also enables him to attend to important personal matters." In addition to Noski's past roles at Northrop Grumman, AT&T, Hughes and United Technologies, he also served as a senior advisor to the Blackstone Group.

Before serving as chief risk officer, Thompson headed Global Capital Markets at Bank of America Merrill Lynch. Previously, he was co-head of Global Credit Products, and head of Global Leveraged Finance. During his tenure as chief risk officer, Thompson oversaw development and implementation of the company's enterprise risk framework and improved the international risk governance programs. Said Moynihan, "Bruce has proven leadership in the global financial and capital markets. These skills, together with his insights into risk management, prepare him to be an outstanding chief financial officer."