'At the Top'
"It became evident that streamlining could be done at the top as well as throughout the organization," Price said in the statement.
Moynihan said in April that Bruce Thompson was replacing Charles Noski as chief financial officer, and Gary Lynch, formerly a U.S. Securities and Exchange Commission enforcement director, was hired to oversee legal and compliance operations. The CEO announced in July that Terry Laughlin would succeed Thompson as chief risk officer.
Moynihan struck deals to cut stakes in BlackRock Inc. and China Construction Bank Corp. and divest insurance units and non-U.S. credit-card businesses as he scales back the company left to him early last year by predecessor Kenneth D. Lewis.
"Only by streamlining and focusing our resources behind our customers will we truly deliver on the promise of what we have built," Moynihan said.