Bank of America Makes Senior Appointments in GCIB, Risk Management.

Business Editors

SAN FRANCISCO--(BUSINESS WIRE)--April 11, 2001

Bank of America today announced two key senior appointments in the Global Corporate and Investment Bank (GCIB) and in Corporate Risk Management.

Charles Williams has been appointed Chief Operating Officer of GCIB, reporting to Ed Brown, president of GCIB and Paul Morrison has been named General Auditor for the bank, reporting to Bill Vandiver, Corporate Risk Management Executive.

In his new role, Williams will be responsible for coordinating Global Business Operations and Infrastructure Development, assisting in the execution of Strategic Objectives, approving new products and services, developing and implementing systems of governance, supervision and control, providing transactional guidance and advice, coordinating support functions and serving as a primary liaison with external regulators.

"By pulling together all of these activities under one person, we will be better able to ensure that our governance and business processes keep pace with the significant business growth we anticipate in the months and years ahead," said Brown. In addition to serving on Brown's GCIB Leadership Team, Williams will continue as a member of the Managing Operating Committee of Bank of America.

Prior to this appointment, Williams was the Corporate Risk Evaluation Executive and General Auditor for Bank of America. Williams brings 20 years of experience in the Financial Services industry to his new position. He spent 14 years on Wall Street in variety of senior positions at such firms as Salomon Brothers, Jefferies and Company and Prudential Bache Securities. Williams will be located in Charlotte, NC.

As General Auditor, Morrison's responsibilities will include planning, developing and managing the audit services worldwide for the bank's multiple lines of businesses. Morrison most recently served as Deputy General Auditor for GCIB, Asset Management, Technology & Operations, Staff Support and e-Commerce. He will report directly to Vandiver.

Morrison joined the bank in 1996 after working in senior audit functions at JP Morgan & Company, Salomon Brothers, Wells Fargo & Company and Advanced Micro Devices.

"Paul's business knowledge and breadth of experience in key audit positions combined with his technical skills position him well to effectively lead this team," said Vandiver.

Vandiver also announced that Charles Bowman will continue as Corporate Compliance Executive, now as a direct report. Bowman has responsibility for worldwide regulatory compliance and will assume responsibilities for the regulatory relations function and merchant banking compliance activities

One of the world's leading financial services companies, Bank of America is committed to making banking work for customers like it never has before. Through innovative technologies and the ingenuity of its people, Bank of America provides individuals, small businesses and commercial, corporate and institutional clients across the United States and around the world new and better ways to manage their financial lives. The company enables customers to do their banking and investing whenever, wherever and however they choose through the nation's largest financial services network, including more than 4,400 domestic offices and 13,000 ATMs, as well as 38 international offices, a telephone banking network that handles over a half billion calls a year and an Internet Web site that provides online access for over 3 million customers, more than any other bank.

Bank of America stock (ticker: BAC) is listed on the New York, Pacific and London stock exchanges. The company's Web site is www.bankofamerica.com. News, speeches and other corporate information may be found at www.bankofamerica.com/newsroom.