B of A Elects Former JPM, Deutsche Executives to Board

Bank of America (BAC) has added two veteran bankers to its board of directors.

Clayton Rose and Pierre de Weck were elected to the Charlotte bank's board on Wednesday, boosting the number of directors to 15.

Rose, 54, spent 20 years with JPMorgan (JPM), heading the company's investment bank and its global equities business, according to Bank of America's statement. Since 2007, he has taught management at Harvard Business School.

De Weck, 63, a former top executive at Deutsche Bank, Citigroup (NYSE: C) and UBS. He headed Deutsche's private wealth management division and was on the group executive committee, according to Bank of America's statement. He retired from Deutsche in 2012.

Rose and de Weck "are strong leaders who understand the operations of global financial institutions," said Bank of America Chairman Charles Holliday in the news release. "Their joining the board enhances the already strong diversity of experience our board contributes to the benefit of shareholders."

The pair will receive stock and cash awards in accordance with the bank's director-compensation policy, the company said. Bank of America updated its compensation policy in March to require certain executives and directors to hold their stock until their retirement.