CHARLOTTE, N.C. -- Bank of America will keep its headquarters at Trade and Tryon as the bank's new CEO takes over next year, company officials announced late Wednesday.
Brian Moynihan, currently B of A's head of consumer banking, will assume the top job on January 1 after he was selected by the company's board of directors in a unanimous vote.
Wednesday's announcement should put to rest any fears that the company's headquarters, along many of the 15,000 employees who work for the bank in Charlotte, would leave town, said Bob Morgan, President of the Charlotte Chamber of Commerce.
"It affirms what we have believed all along, but it's a nice relief to hear it," Morgan told NewsChannel 36.
Moniyhan, who lives in Boston, reportedly threatened to quit last year when Bank of America asked him to relocate to Delaware.
A recent shakeup in the bank's board of directors left no one with direct ties to the Carolinas, prompting speculation that the new CEO could direct a move of the C-Suite from Charlotte to another city, including Manhattan.
"It's a good sign and a signal to the Charlotte community that they are going to keep their headquarters in Charlotte by making that a condition for accepting the job," said Tony Plath, a finance professor at UNC-Charlotte.
Mayor Anthony Foxx said he spoke with Moynihan by phone late Wednesday.
"He couldn't' have been more profuse in his excitement about the role that he's taking as well as his commitment to Charlotte," Foxx said.