Bank of America reportedly close to naming new global general counsel

Former Ford Motor Co. general counsel David Leitch expected to take position

Ending a search that stretched back to July, Bank of America (BAC) appears to be set to name a new global general counsel.

In July, Reuters and the Wall Street Journal reported that Gary Lynch, who served as the bank’s global general counsel, was stepping down to move into a “more advisory role.”

According to the Reuters report, Lynch played a significant role in the $16 billion settlement between Bank of America and the U.S. Department of Justice over toxic mortgages, collateralized debt obligations and an origination release on residential mortgage loans sold to Fannie Mae and Freddie Mac in the run-up to the financial crisis.

On Wednesday, the Wall Street Journal reported that Bank of America is expected to name David Leitch, who is set to retire from a similar position with Ford Motor Co. (F), as the bank’s new general counsel.

From the WSJ report:

Most recently, Mr. Leitch, 54 years old, spent more than a decade at Ford. Previously, he was deputy counsel to President George W. Bush, chief counsel for the Federal Aviation Administration, and worked for the Justice Department.

Ford announced two weeks ago that Mr. Leitch would retire Jan. 1. He is expected to join the bank early next year. Mr. Leitch graduated first in his class from the University of Virginia School of Law and clerked for Supreme Court Justice William Rehnquist.

Most Popular Articles

Is the housing market already rebounding from COVID-19?

In early April, HousingWire Columnist Logan Mohtashami wrote about five indicators that would show when “America is back.” Now, he’s checking in on each data point to see where the U.S. housing market stands.

May 26, 2020 By

Latest Articles

[PULSE] Does the mortgage industry view foreclosure as a last resort?

Even in normal conditions foreclosure is a cumbersome solution to the problem of the defaulting borrower. It can produce vacant and abandoned properties, because as soon as the residents receive notice that the house will be going into foreclosure, they face uncertainty about when they will be ousted, which prompts many to vacate the premises before getting thrown out.

May 28, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please