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February 5, 2023

Bank of America Gets It Some Sharon Allen

Bank of America announced today that perpetually hydrated former Deloitte Chairwoman Sharon Allen will be joining their board of directors effectively immediately. This appointment by a prominent company naming a former Big 4 bigwig to their BoD follows announcements by J.P. Morgan and Walmart that ex-KPMG Chairman Tim Flynn would be joining their boards.

This is probably a good gig for Allen who retired from the Green Dot last year and on the surface, it looks pretty good for BofA, too. Presumably, the bank likes the idea of having the former head of governance for a firm that espouses integrity and whatnot because it allows Bank of America to procure, at least in part, the image of integrity and whatnot. 

And as long as you can forget about the shoddy auditing, the insider trading, HSBC, and Standard Chartered (among other things that happened while Allen was the Chair at Deloitte) then yeah, it looks pretty good.

[Reuters]

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