CHARLOTTE, N.C.,
(Logo: http://www.newscom.com/cgi-bin/prnh/20050720/CLW086LOGO-b )
Sambol will continue in his current role, reporting to Countrywide Chairman and Chief Executive Officer Angelo R. Mozilo until completion of the transaction, which is targeted for the third quarter.
In a related announcement, Bank of America Global Consumer and Small
Business Banking
Hammonds, who will continue to report to McGee, will be in charge of all
consumer credit products, including the consumer mortgage organization, Bank
of
"Bruce is a strong and experienced leader who knows the consumer lending business extremely well," said McGee. "As we deepen our consumer credit product offerings, it's a logical step to have one executive overseeing all of these businesses, which are critical to our future success."
"Customers tell us they want a simple, reliable way to access credit," McGee added. "We are also taking an important step in meeting that need by simplifying our organization. This new integrated approach will help us provide our customers the right credit solutions at the right time in their lives."
Sambol and Robinson will work with Hammonds on integration activities for Countrywide and Bank of America, respectively.
Bank of America
Bank of America is one of the world's largest financial institutions,
serving individual consumers, small and middle market businesses and large
corporations with a full range of banking, investing, asset management and
other financial and risk-management products and services. The company
provides unmatched convenience in the
www.bankofamerica.com
Additional Information About This Transaction
In connection with the proposed merger, Bank of America will file with the SEC a Registration Statement on Form S-4 that will include a proxy statement of Countrywide that also constitutes a prospectus of Bank of America. Countrywide will mail the proxy statement/prospectus to its stockholders. Bank of America and Countrywide urge investors and security holders to read the proxy statement/prospectus regarding the proposed merger when it becomes available because it will contain important information. You may obtain copies of all documents filed with the SEC regarding this transaction, free of charge, at the SEC's website (www.sec.gov). You may also obtain these documents, free of charge, from Bank of America's website (www.bankofamerica.com) under the tab "About Bank of America" and then under the heading "Investor Relations" and then under the item "SEC Filings". You may also obtain these documents, free of charge, from Countrywide's website (www.countrywide.com) under the tab "investor relations" and then under the heading "SEC & other filings."
Proxy Solicitation
Bank of America, Countrywide and their respective directors, executive
officers and certain other members of management and employees may be
soliciting proxies from Countrywide stockholders in favor of the merger.
Information regarding the persons who may, under the rules of the SEC, be
considered participants in the solicitation of the Countrywide stockholders in
connection with the proposed merger will be set forth in the proxy
statement/prospectus when it is filed with the SEC. You can find information
about Bank of America's executive officers and directors in its definitive
proxy statement filed with the SEC on
SOURCE Bank of America