Bank of America Corporation has hired Terry Laughlin, currently head of Legacy Asset Servicing, as chief risk officer. His transition to that role is expected to occur late in the third quarter. Until Laughlin's transition, Global Compliance Executive, Paula Dominick, is serving as interim chief risk officer.

In other news, as the company announced in April, Gary Lynch has joined Bank of America as global head of legal, compliance and regulatory relations, effective July 11.

As previously announced, Bruce Thompson, who served as chief risk officer, recently began serving in his role as chief financial officer for the company. In connection with this move, Chuck Noski has assumed a new role as vice chairman engaged in strategic and capital management matters, the resolution of legacy issues and client development activities.