CHARLOTTE, N.C. Bank of America Corp. said Catherine Kenworthy will become head of its insurance services group on Monday.
Ms. Kenworthy was senior vice president of new e-business at GE Capital Mortgage in Raleigh, N.C., focusing on insurance and mortgage banking.
Ms. Kenworthy will be responsible for boosting sales of insurance products at the bank, where the menu currently offers homeowner, credit, auto, and term life insurance to both retail and business customers. She is expected to expand the banks insurance sales through a variety of distribution channels, including the Internet.
The unit produces pretax revenues of about $150 million a year. Ms. Kenworthy succeeds Charles M. Baynard, who is moving to head up Bank of Americas specialty finance group, which handles auto financing.