Bank of America taps new CFO, promotes three women to top roles

Bank of America Corp. announced its most significant leadership changes since the financial crisis, replacing the chief financial officer and elevating five new members to the senior management team, including three women.

Alastair Borthwick, president of global commercial banking, will replace CFO Paul Donofrio next quarter, the company said Friday in an internal memo. Dean Athanasia, head of the consumer and small-business unit, will take on a larger role at the firm by adding responsibility for the commercial bank. 

With the shake-up, Bank of America is paving the way for a new generation of leaders under Chief Executive Officer Brian Moynihan, and