Holliday to join board at BoA

DUPONT chairman Charles Holliday is expected to be added to Bank of America&rsquo;s (BoA) board of directors.<br /><br />The bank&rsquo;s directors were due to agree the appointment in a board meeting, in which they were also due to be briefed on options if the bank&rsquo;s chief executive Kenneth Lewis is charged with civil fraud.<br /><br />Last week, New York attorney general Andrew Cuomo subpoenaed five current or former Bank of America directors to question them over what they knew about Merrill Lynch&rsquo;s problems as the companies prepared to merge. <br /><br />Cuomo has threatened to sue Bank of America officers, perhaps including Lewis, and its lawyers over a lack of disclosures about the merger.<br /><br />Holliday retired as chief executive of chemical firm DuPont in January of this year after more than 10 years at the helm. <br /><br />He will be the sixth new director at BoA in just four months, as 10 board members have stepped down amid regulatory demands for changes to the way the bank is run.<br /><br />Meanwhile, Tom King, the veteran Citigroup dealmaker who was its head of banking for Europe, the Middle East and Africa (EMEA), has left the bank to &ldquo;pursue other interests&rdquo;, according to an internal memo sent yesterday. <br /><br />David Wormsley, Citi&rsquo;s head of UK investment banking, will now serve as interim head of EMEA banking.<br /><br />King is not thought to have decided on his next move, although some analysts suggested that he could join Barclays.<br /><br />It is hiring hundreds of people to turn its Barclays Capital unit into a leading full-service global investment bank.