BofA CEO Candidates Suggest The Bank Breaks Up

Bank of America will get a new CEO soon and at least two of the candidates think the bank should consider splitting up.

The Wall Street Journal reports one of those candidates is former CitiGroup leader Michael O’Neill. The candidates are questioning the size and the scope of the bank. The board is rejecting the idea of breaking up.

The board is looking to replace CEO Ken Lewis who announced he is retiring at the end of this month. Lewis suggested he is willing to stay longer if the board doesn’t find a replacement.

Lewis announced his retirement after the controversial merger with Merrill Lynch. Lawmakers are looking into how much bank executives knew about Merrill’s troubles before the merger.