BofA To Name New Research Director Soon?

Susan Silverstein, global director of equity research at Banc of America Securities, relinquished her post last week sparking speculation that a new director would be named shortly. Silverstein announced her resignation last November but as yet no one has been named to the post.

February 21, 2006

Susan Silverstein

Susan Silverstein, global director of equity research at Banc of America Securities, relinquished her post last week sparking speculation that a new director would be named shortly. Silverstein announced her resignation last November but as yet no one has been named to the post. Silverstein at that time agreed to stay to assist the search for her replacement and to ensure a smooth and successful transition. BofA has been seeking replacements both inside and outside the firm. Joan Solotar and Robert Fagin, associate research directors, are overseeing the day-to-day operations. Silverstein ran equity research for over three years; she worked at BofA for over eight years. She was ranked number one textile analyst on the Institutional Investor All-America Research Team in 2002 and 2001. Banc of America has around 70 analysts that cover sectors of consumer, energy, finance, healthcare, general industrial, media and telecom services and technology. The research team was ranked number nine in Institutional Investor's All-America research team last year and was ranked 11 in 2004. A BofA spokesman confirmed Silverstein's departure and declined to comment further. Silverstein did not return calls for comment.