(Source: The Charlotte Observer (Charlotte, N.C.))

By Rick Rothacker, The Charlotte Observer, N.C.
Nov. 2--Add Bank of Bob Kelly to the list of financial services
executives who aren't clamoring for the top job at Bank of America Corp.
The Bank of New York Mellon Corp. CEO was approached in the past couple
of weeks about becoming the Charlotte bank's leader but he said he had no
interest, a person familiar with the situation said today. Kelly wasn't
approached directly by the bank but through an acquaintance, the person said.
Kelly is known in Charlotte as the former chief financial officer of
Wachovia Corp., the Charlotte bank bought last year by Wells Fargo & Co. He
left in 2006 to become CEO of wealth manager Mellon Financial Corp., which he
soon merged with Bank of New York. That merger has fared well and the bank was
one of the first to pay back government loans it received in the financial
crisis.
The Wall Street Journal first reported Kelly's lack of interest in the
job.
Bank of America's board has been hunting for a CEO since Ken Lewis
announced Sept. 30 that he was stepping down at year's end. He had been under
fire for his Merrill Lynch & Co. acquisition, but the timing of the decision
apparently blindsided the board.
Other potential outside candidates who have signaled they aren't
interested are BlackRock CEO Larry Fink and MasterCard president Ajay Banga.
The two leading internal candidates are consumer banking head Brian Moynihan
and chief risk officer Greg Curl.
Another name receiving speculation lately is Michael O'Neill, a Citigroup
board member with ties to Bank of America. O'Neill was the chief financial
officer at San Francisco's BankAmerica Corp. when it merged in 1998 with
Charlotte's NationsBank Corp. to become Bank of America. He stayed briefly at
Bank of America before leaving to become CEO of British bank Barclays,
although his tenure there was brief because of health issues. He later became
the chief executive of Bank of Hawaii and is now retired.
O'Neill could not be reached for comment.
After Bank of America initially appeared to be honing in on inside
candidates, some investors pushed back, saying they wanted a leader untainted
by the bank's troubles. As the search lingers, some investors are questioning
how seriously the bank is looking for an outside candidate, said people
familiar with the situation.
The board's six-member search committee is dominated by directors from
the former FleetBoston Financial Corp., who are believed to favor Moynihan, a
former Fleet executive. Bank of America bought Fleet in 2004.
-----
To see more of The Charlotte Observer, or to subscribe to the newspaper, go to
http://www.charlotteobserver.com.
Copyright (c) 2009, The Charlotte Observer, N.C.
Distributed by McClatchy-Tribune Information Services.
For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
BK, BAC, 8648, BLK, PNC, MA, C, 8710, WFC, MEL,
A service of YellowBrix, Inc.