Bank of America Corp (BAC.N) named Geoffrey Greener its new chief risk officer following Terry Laughlin's movement to a new role.
Greener, an enterprise capital management executive, will now be part of the senior management team, the bank said.
Laughlin's new duties will include corporate strategy and enterprise client coverage.
He will also oversee an internal initiative to identify opportunities to simplify work flow and invest in the bank's operating platform.
The U.S. Department of Justice is asking the Charlotte, North Carolina-based bank to pay more than $13 billion to settle allegations that it overstated the quality of mortgage bonds it sold during the housing bubble, according to a report by Bloomberg News earlier on Thursday.
(Reporting by Sampad Patnaik in Bangalore; Editing by Bernard Orr)