BofA CFO Change Rekindles Investor Concern Over Management

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Bank of America Corp. investors expressed consternation Thursday over the surprise departure of a well-respected chief financial officer who saw the lender through years of legal battles and cost cuts.

For many, Bruce Thompson was the main guide to the company, dominating public conference calls to discuss quarterly results and representing the bank at investor gatherings about as often as Chief Executive Officer Brian T. Moynihan. Thompson’s exit in a broad management shakeup is “disappointing,” Morgan Stanley analyst Betsy Graseck wrote in a note to clients after the bank’s announcement.