Bank of America Corp. announced the appointment of a new general counsel Wednesday to replace the retiring Paul Polking.

The new counsel, Timothy Mayopoulos, formerly of Deutsche Bank, was also named executive vice president. At Deutsche, he served as managing director and general counsel of the corporate and investment bank.

Bank of America CFO Jim Hance said that Mayopoulos, 44, "has a successful track record responding to legal and regulatory challenges.

Polking, 66, has been Bank of America’s general counsel since 1988 and has worked with the company since 1970. He will remain on in order to ensure a satisfactory transition.

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