Updated 04.13.2010


Summary: Bank of America has made certain improvements in its Board of Director composition especially its Board Audit Committee. This is reflected in datapoint scores that deal with availability and relevance of experience of the Board of Directors.


With changes to the Board composition, more directors with experience relevant to Bank of America's core business are onboard. In addition,the new directors appear to limit their other public company directorships thereby making themselves more available to fulfill their committments to BoFA.


Another significant change is the creation of a new Board level Enterprise Risk Committee. Unfortunately, not all the members of this committee appear to have relevant financial industry risk experience. Some committee members have served long careers in a non financial industry which could limit the level of expertise that they bring to the Board Enterprise Risk Committee at Bank of America.


For a detailed comparison between Bank of America's scores in April 2009 versus the current scores, click on 'Compare Charts' and choose 'SAMPLE (Bank of America)' for comparison. (You need to be a subscribed member to access this feature.)


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Detailed Scorecard


Board Size: 15

Board of Directors Compensation($): $80,000- Restrictedstock award valued at $160,000

Total Carbon Emissions(metric tons): 2008- not known ; 2007- not known

Total CEO compensation for 2009($): Kenneth Lewis $ 4.2 million

Chief Risk Officer: Bruce Thompson

Changes in Chief Risk Officer over the past 2 years**: Twice (Gregory Curl took over as Chief Risk Officer in 2009. Bruce Thompson took over from Gregory Curl in 2010.)

Tenure of Chief Risk Officer in this position: Bruce Thompson has held the position of Chief Risk Officer at Bank of America since early 2010.

** Why do we look at changes in the Chief Risk Officer position? Companies, where we observe quick changes to senior risk positions in case of companies in the finance industry) are high on our 'watch' list.