CHARLOTTE, N.C. (AP) — Bank of America's outgoing CEO Ken Lewis says the economy may be improving but the recovery in the financial industry remains slow.
In what may be his last address to analysts, Lewis said at a conference Tuesday in New York that Bank of America and other banks continue to be under great pressure.
He says if we are seeing the beginnings of a real, sustainable economic recovery, it is in its very early stages and is very fragile. But he says the early economic signs suggest we may be on the path to better days.
Lewis is set to retire at the end of the year. Bank of America, based in Charlotte, N.C., is searching for his replacement and said Monday it could be announced by Thanksgiving.
©2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
