Business

BofA names new head of mortgage sales

Bank of America Corp., the nation's second-largest bank, named Craig Buffie as its top mortgage-sales executive, displacing former Countrywide Financial Corp. executive Drew Gissinger.

“Craig brings exceptional transformational leadership experience and deep knowledge of Bank of America operations to this role,” Barbara Desoer, mortgage, home equity and insurance-services president, said in a statement.

The Charlotte-based bank in May named Desoer to head the unit that became the largest U.S. home lender after the July 1 purchase of Countrywide. Buffie has worked for Bank of America for 24 years, most recently as a human-resources executive.

Gissinger, a former San Diego Charger offensive lineman in the National Football League, worked for Countrywide for seven years, said spokesman Dan Frahm. Three other former Countrywide managers, Brian Hale, Charles Rogers and Tom Hunt, also left as part of the changes, Frahm said.

Other top Countrywide executives who have departed include former Chief Executive Officer Angelo Mozilo and President David Sambol. The latter, originally named to run the combined mortgage business, was replaced by Desoer after regulators criticized Countrywide's compensation and lending practices.

Bloomberg News

Charlotte investment banks close 2 deals

Charlotte-based investment banks have closed two deals recently:



McColl Partners advised OMEGA Training Group Inc. a defense training services company, in its sale to Cubic Corp.



DecisionPoint International advised telecommunications firm PhoneXtra Inc. in its sale to Strategic Products and Services.

Rick Rothacker
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