Two upper level Bank of America executives have announced their departures just days before the bank’s CEO is expected to testify before Congress regarding his firm’s acquisition of Merrill Lynch earlier this year. According to the Wall Street Journal, Chief Risk Officer Amy Woods Brinkley and director Robert Tillman are the latest departures following the merger between the two banks.
The announcement comes just days after a June 3 letter issued to BofA requesting the presence of chief executive Kenneth Lewis before the House Committee on Oversight and Government Reform on June 11. The Committee’s goals in the meeting are to determine BofA’s knowledge of the solvency of Merrill Lynch before it announced its intentions to purchase the investment bank late last year.
The investigation seems to be focused on the possibility that Lewis may have made conflicting statements in communicating the details of his bank’s acquisition of Merrill Lynch.
Tillman left BofA on May 29, while Brinkley will depart at the end of June. BofA director Temple Sloan also resigned last week. Lewis himself has claimed he will leave in no more than three years.