From Dow Jones and wire reports

CHARLOTTE -- Bank of America Corp. has promoted R. Eugene Taylor to president of its consumer and commercial banking unit as part of the company's realignment plan, a spokesman said.

A spokesman from the $656 billion-asset holding company said the regional presidents positions have been removed as part of the realignment. Joel A. Smith 3d, president of the bank's East region, has retired.

A 31-year veteran of the bank, Mr. Taylor has been the president of Bank of America's west and central regions since 1998. These regions include 14 of the 21 states where Bank of America has branches. Still earlier, he was president of the Florida region, and before that the head of its Mid-Atlantic region. He will report to Kenneth D. Lewis, president and chief operating officer.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.