Citi's Krawcheck to Head BofA's Wealth Management Group.

Former top Citigroup executive Sallie Krawcheck is joining Bank of America Corp. as head of its global wealth and investment management group, according to a statement from the Charlotte, N.C.-based company. She replaces Brian Moynihan, who was named to a new position as the head of consumer banking.

Ms. Krawcheck — who was reportedly being considered to take over the top spot at UBS AG's U.S.-based wealth management business — was most recently in charge of the wealth management business at Citigroup Inc. of New York.