Bank of America Corp.'s board on Friday elected Robert W. Scully a director, effective immediately.

Scully, 59, was a member of the office of the chairman at Morgan Stanley & Co., focusing on key clients until January when he retired after nearly 35 years in the financial services industry.

As co-president at Morgan Stanley, Scully was responsible for asset management, the Discover card business and merchant banking activities.

Before that, he was chairman of global capital markets and vice chairman of investment banking.

B of A has lost 10 directors in the past seven months but is up to 14 directors with the appointment of Scully and others.

The Charlotte banking company in June added four directors with financial experience: Donald Powell, D. Paul Jones Jr., William Boardman and Susan Bies.

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