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BofA’s Got a Brand New Board 

Jun 08, 2009By

[Update 1 includes new details on departures from BofA.] Of the 19 largest US banks, a few passed the government-initiated stress tests with plenty of capital, some were found to be lacking a few billion dollars, and then there was Bank of America [stock BAC][/stock]. In need of billions dollars in fresh capital and reeling from a board of directors exodus — including the departure of 13-year company veteran O. Temple Sloan Jr. from the lead post on the board — BofA needed some new talent. And quick.

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