Bank of America Corp. today said it had net income of $2 billion, or 17 cents per diluted share, for the first quarter of 2011, down from $3.2 billion, or 28 cents per diluted share, in the year-ago quarter.
The Charlotte-based company also reported today a net loss of $1.2 billion, or 16 cents per diluted share, in the fourth quarter of 2010.
For the first quarter, the company reported revenue of $27 billion, up from $22.6 billion in the fourth quarter of 2010 but down from $32.3 billion in the first quarter of 2010.
Also today, Bank of America announced the following appointments:
• Gary Lynch, 60, will serve as global chief of legal, compliance and regulatory relations in a newly created position. He will be based in New York.
• Chuck Noski, 58, will change from chief financial officer to vice chairman of Bank of America. He will be based in Los Angeles.
• Bruce Thompson, 46, will change from chief risk officer to tCFO, filling Noski’s former post by the end of the second quarter of this year. He is based in Charlotte.