Ken Lewis (executive)

Kenneth Lewis ( born April 9, 1947 in Meridian, Mississippi) is an American manager.

Lewis was seven years old when his parents separated. During school, he supported his single mother with odd jobs. Then Lewis studied economics at Georgia State University and graduated in 1969 with a Bachelor from. After that he began as a credit analyst at North Carolina National Bank, headquartered in Charlotte ( North Carolina), who later renamed to NationsBank and 1998 acquisition of Bank America the largest U.S. bank, Bank of America, was. Lewis went through the Institute several career stages of the corporate and retail banking, before Chief Operating Officer of Bank of America in 1999. In 2001 he took over as successor of Hugh McColl addition the position of CEO. 2005 Lewis President ( chairman ).

By 2010, Lewis was President and CEO of Bank of America. For its expansive corporate policy in 2008, as he was responsible for around 50 billion dollar takeover of the investment bank Merrill Lynch and mortgage financier Countrywide by Bank of America, he first earned approval; so he received from the journal American Banker Banker of the Year title in 2008. however Since January 2009, there will be calls for his resignation against Lewis. One of the allegations of the shareholder side is that Lewis at the time of the Annual General Meeting in early December 2008 (on which the acquisition of Merrill Lynch, could have been prevented ) already by the high losses of Merrill Lynch in the fourth quarter of 2008, amounting to about 15 billion dollars should have known.

As compensation, the outgoing Bank boss will receive approximately € 80 million. However, Lewis has his base salary in the amount of $ 1.5 million and forego a bonus payment. This is the first case that the appointed by President Obama salary checker Kenneth Feinberg is employed.