Bank of America names risk officer

Bank of America names risk officer: "(By Rick Rothacker, rrothacker@charlotteobserver.com) The executive in charge of cleaning up Countrywide Financial Corp.’s toxic loans will become Bank of America Corp.’s new chief risk officer later this year, according to a memo sent to employees today and obtained by the Observer.

Terry Laughlin is expected to assume the role late in the third quarter of this year, chief executive Brian Moynihan said in the memo. Laughlin joined the bank last year and in February took charge of a new unit that is the repository for troubled assets largely inherited from the bank’s 2008 Countrywide purchase."