Bank of America Corp. is changing chief financial officers again.
Charles Noski will step down soon as CFO, a year after taking the job, because of "the illness of a close family member," Chief Executive Brian Moynihan told analysts Friday.
Bruce Thompson, the chief risk officer, will be the new CFO. He will continue as chief risk officer until a search is completed for his replacement, B of A said.
Noski, a former finance chief at AT&T Corp. and Northrop Grumman Corp. who joined Bank of America in May 2010, will become the vice chairman. The shift will take place by the end of June.
Noski is stepping down because the family matter prevents him from moving to Charlotte from his home in Los Angeles as he had planned to do this summer. The CFO has to work in Charlotte.
"I asked Chuck to take another leadership position," Moynihan said during a call to discuss first-quarter results, adding that there was a "tremendous transformation of our financials" during his tenure.
Noski will advise on "strategic and capital management matters" and help shape "the consumer mortgage" business in his new role, Bank of America said.
Early last year Moynihan shifted then-CFO Joe Price to president of the consumer and small-business banking unit.
In a separate move: Gary Lynch, most recently the vice chairman of Morgan Stanley and its former chief legal officer, will join B of A as global chief of legal, compliance and regulatory relations, a new position that puts him in charge of the company's general counsel. Lynch was previously an executive with Credit Suisse and director of enforcement for the Securities and Exchange Commission.
Ed O'Keefe, the general counsel, will report to Lynch, who will move to New York from London and report to Moynihan, the company said.