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Bank of America has now changed Kenneth Lewis' biography. 30 January 2009 - Today, InvestorVoice found the following Executive Biography on the Bank of America Corporate website. We have highlighted in red where we believe the most significant changes are required. For example, the sentence, "During his tenure...annual profits have increased from $7.5 billion to $15 billion.....market capitalization has grown from $74 billion to $183 billion..." should now read, "During his tenure...annual profits have fallen from $7.5 billion to $4 billion.....market capitalization has fallen from $74 billion to $44 billion...". In fact, the whole paragraph needs to be re-written. Kenneth D. Lewis biography Chairman, Chief Executive Officer and President, Bank of America Corporation Kenneth D. Lewis is chairman, chief executive officer and president of Bank of America. As CEO of Bank of America, Lewis leads one of the world's largest financial institutions and the twelfth most profitable company in the world in 2007. Bank of America serves more than 59 million consumers and business clients through more than 6,100 retail bankingoffices, 19,000 ATMs and an award-winning online banking and bill-pay servicewith more than 24 million active users. The company serves clients in 175 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Global Fortune 500. During his tenure, Bank of America has improved customer satisfaction significantly across every major line of business; annual revenue has increased from $33 billion to $66 billion; annual profit has increased from $7.5 billion to $15 billion; assets have increased from $642 billion to $1.7 trillion; market capitalization has grown from $74 billion to $183 billion; and total annual shareholder returns (including stock price growth plus dividends) have averaged 13.3%, doubling peers, the KBW Banks Index, the S&P 500 and the Dow Jones Industrial Average over the same period. Lewis has been chief executive officer since 2001. He joined North Carolina National Bank (NCNB, predecessor to Nations Bank and Bank of America) in 1969 as a credit analyst in Charlotte and served as corporate banking officer and Western Area director in the U.S. Department before being named manager of NCNB's International Banking Corporation in New York in 1977. He was named Middle Market Group executive in 1983 when the group was created and was responsible for expanding and improving service to middle market companies throughout the Southeast. Heled the bank's operations in Florida and Texas in the 1980s, served as president of Consumer and Commercial Banking and chief operating officer in the 1990s, and was named chairman, chief executive officer and president of Bank of America in April of 2001. Lewis was born April 9, 1947, in Meridian, Mississippi. He earned a bachelor's degree in finance from Georgia State University, and is a graduate of the Executive Program at Stanford University. Lewis was named to "The Time 100 List" in 2007 as one of the 100 most influential people in the world by Time Magazine. He is a member of the Financial Services Roundtable and the Financial Services Forum; the Fifth District's representative on the Federal Advisory Committee; a memberof the board and the executive committee and past chairman of United Way of Central Carolinas, Inc.; a member of the Committee to Encourage Corporate Philanthropy; a director of the Homeownership Education and Counseling Institute; vice chairman of the Corporate Fund Board of The John F. Kennedy Center for the Performing Arts; and past chairman of the National Urban League.
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