The bank will divvy up Owen's responsibilities among three other executives, including Kate Danella, who will become chief strategy and client experience officer.
Lester Owens, who is scheduled to join the bank in July, will report to Chief Operating Officer Scott Powell. He will be charged with implementing a more unified structure across the 260,000-person company.
Banks are so caught up in the newest technology trends that they lose sight of the need to build a talented workforce and a purpose-driven organization.
A thorough process for approving experiments with artificial intelligence, clear philosophical principles and diverse human involvement are some of the ways BofA says it's working to ensure AI does no harm.
In stark contrast to his predecessor, C. Allen Parker said Thursday he accepts regulators' criticism and suggested that the bank may struggle to achieve revenue growth until it moves past its regulatory woes.
