Sallie Krawcheck will join Bank of America Tuesday as president of global wealth and investment management, overseeing a number of businesses including money manager affiliate Columbia Management, BofA spokesman Robert Stickler confirmed.
She will replace Brian Moynihan, who will become head of consumer banking.
Along with Columbia, Ms. Krawcheck will oversee Bank of America's brokerage operations, including Merrill Lynch, and the U.S. Trust private bank business.
Mr. Stickler declined to comment on continued reports that Bank of America is in the final stages of selling Columbia.
Ms. Krawcheck resigned as CEO of Global Wealth Management at Citigroup in September 2008.