Bank of America’s board of directors has appointed its consumer banking chief, Brian Moynihan as CEO, replacing Kenneth Lewis, The Wall Street Journal reports. He has served as BofA’s general counsel, head of global wealth management and consumer bank chief in the past one year, adds The Associated Press.

Barclays president Bob Diamond, BlackRock CEO Larry Fink, former Goldman Sachs Chairman and CEO Jon Corzine, and BofA’s chief risk officer, Gregory Curl, were the other candidates considered for the position.

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