Kenneth D. Lewis (Born April 9, 1947 in Meridian, Mississippi) is the current CEO, President, and former Chairman of Bank of America, the largest bank in the United States. He joined the organization (at that time NCNB) as a credit analyst in 1969, and served as the head of both international and domestic operations during his tenure at NationsBank.
Lewis created the ultimate too-big-to-fail company, buying up Fleet, MBNA, Countrywide and Merrill Lynch.
And, in the process of all these acquisitions somehow failed to catch a $15 billion loss at Merrill before buying the firm; needing a $20 billion bailout to close deal.
Bank of America received nearly $200 billion in TARP funds, then turned around and paid out $3.6 billion in executive bonuses while 35,000 employees were laid off.
Lewis's compensation in 2007 earned him $20,404,009, which included a base salary of $1,500,000, a cash bonus of $4,250,000, stocks granted of $11,065,798, and options granted of $3,376,000. In 2008, he earned a total compensation of $9,003,467, which included a base salary of $1,500,000, stocks granted of $4,255,012, and options granted of $2,973,330.
On 29 April 2009, Bank of America shareholders narrowly voted to remove Lewis from his position as Chairman of the Board of BofA, though they voted in favor of retaining him as president and CEO.
He is currently CEO of Bank of America.