Brian Moynihan, who heads Bank of America's (BAC.N) investment banking and wealth management divisions, is emerging as a potential successor to Chief Executive Kenneth Lewis, the Wall Street Journal said.
Lewis, who has led the bank since April 2001, has indicated that he could leave once the current financial crisis is over and definitely plans to depart within three years, the paper said, citing people familiar with the matter.
Moynihan, who replaced former Merril Lynch chief John Thain in January, is on the working list of succession candidates, the Journal said in a report posted on its website.
Other candidates under consideration include mortgage chief Barbara Desoer and Chief Financial Officer Joe Price, the paper said.
Bank of America shares have lost about 75 percent of their value since 61-year-old Lewis took over and he has faced growing criticism from investors and analysts who accused him of overpaying for Merrill Lynch.
Reuters efforts to reach Bank of America outside regular business hours were unsuccessful.
(Reporting by Vikram S Subhedar in Bangalore; Editing by Greg Mahlich)