Ken Lewis, BofA in Time mag
Time magazine profiles BofA Ken Lewis on its website today. I'm assuming the article is also in the print edition, but I'm not sure. Two interesting passages:
How many other FORTUNE 500 CEOs know what it's like to be denied a mortgage — as Lewis was when he was a 30-year-old manager newly posted to New York City from Charlotte, N.C.? A native of Meridian, Miss., Lewis was steeped in the gospel of hard work from an early age. When his father left the family, Lewis' mother Byrdine supported him and his sister in Columbus, Ga., by working double shifts as a nurse. Following her example, Lewis worked his way through Georgia State University as an accountant and an airline-reservation agent.
If Wall Street once looked at this bank as some sort of Southern arriviste, that notion was erased for good in November 2006 when BofA's $243.7 billion market capitalization surpassed that of Citigroup. Blackstone CEO Stephen Schwarzman, the insider's insider on the Street, praises BofA as "a phenomenally successful earnings machine."