Possibly the most well-known female executive on Wall Street today, Sallie Krawcheck, has agreed to join Bank of America to run Global Wealth and Investment Management.

Krawcheck, who has been working the business-news-show circuit over the past few weeks, was previously chief executive officer of Global Wealth Management at Citigroup (including Smith Barney, the Citi Private Bank and the Citi equity research division) until she was ousted by Vikram Pandit. If reports published at the time are accurate, the falling out revolved around the amount of money that Citi owed clients who invested in hedge funds and auction-rate securities that turned out to be toxic. Krawcheck is said to have argued in favor of Citi's responsibility to pay clients back for defective investments distributed by her brokers and bankers, whereas Pandit preferred to take a tougher line with clients.

"I am excited that Sallie Krawcheck has agreed to join our company," said Ken Lewis, chief executive officer and president of Bank of America Corporation. "She is acknowledged to be one of the premier executives in the wealth management industry. Her experience and perspective will lead that business to the next level."

Lewis announced several other senior management changes at the company today as well.

Liam McGee, who has headed Consumer and Small Business Banking, has decided to leave the company after a nearly 20-year career. "This is an ideal time for me to begin the next chapter of my career and to pursue my goal of running a company," McGee said. "I am proud to have worked with Ken Lewis and the talented team at Bank of America. I leave with gratitude and respect for the bank's associates and wish them continued success."

"Under Liam's leadership, Bank of America greatly enhanced its position as the leading consumer bank in the world," Lewis said. "He is highly thought of both inside and outside of our company. He has led by example and we appreciate all he has done. We wish him well in pursuing a new challenge."

Other changes to the management team reporting to Lewis include:

Brian Moynihan, currently head of Global Corporate and Investment Banking and of Global Wealth Management, will become head of Consumer Banking, which will include the company's deposit, small business and card businesses as well as the retail delivery network. Ric Struthers will continue to run the card business and to be a member of the Executive Management Team, reporting to Moynihan.

Tom Montag, who currently runs Global Markets for the company, will also run Global Corporate and Investment Banking.

David Darnell, who runs Global Commercial Banking, will now report directly to Lewis and join the Executive Management Team.

In addition to the executives above, those continuing on the Executive Management Team include Steele Alphin, chief administrative officer; Greg Curl, chief risk officer; Barbara Desoer, president of Home Loans and Insurance; Anne Finucane, chief marketing officer, and Joe Price, chief financial officer.