Bank of America (BoA) announced the appointment of Bruce Thompson as its new chief financial officer (CFO) on Friday as part of a wider executive management reshuffle.<br /><br />Thompson will continue in his current role as chief risk officer, reporting to CEO Brian Moynihan, until a successor is found and will become CFO at some point before the end of this year’s second quarter.<br /><br />A search for a new chief risk officer is on-going, BoA said, while the current CFO Chuck Noski is to become vice president at what is one of the biggest banking groups in the world. Thompson oversaw the development of an enterprise risk framework at his current employer and is credited with improving international risk governance programmes across the businesses entire global operation.<br /><br />“Bruce has proven leadership in the global financial and capital markets,” said group chief executive Moynihan. “These skills, together with his insights into risk management, prepare him to be an outstanding chief financial officer.” One further change to the make-up of BoA’s board will see Gary Lynch occupying a newly created role as global chief of legal, compliance and regulatory relations.<br /><br />Lynch is currently based in London where he is vice-chairman at Morgan Stanley.<br /><br />“We are delighted he has chosen to join Bank of America and help guide the execution of our customer-focused strategy,” Moynihan said of the 60-year-old.<br /><br />The announcement of a boardroom reshuffle came along with a disappointing set of first quarter financial figures for BoA, with the bank losing $2.39 billion (£1.46 billion) in its home loan division as foreclosures hurt its mortgage business.