NEW YORK — Bank of America Corp. Chief Executive Kenneth Lewis might be acquiring his successor as part of his plan to purchase Merrill Lynch & Co.

On Thursday, the Charlotte banking giant said Merrill Lynch & Co. Chairman and Chief Executive John Thain will oversee its global banking, securities and wealth management once Bank of America completes its $50 billion acquisition of the brokerage. The appointment puts Thain in a position as the front runner to succeed Lewis as chief executive.

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.