Bank of America Corp.’s board has named Brian Moynihan as chief executive and president of the company. He will assume the office and join the board following the retirement of Ken Lewis on December 31.

BofA spokesman Bob Stickler says the board voted unanimously to promote Moynihan to the post. His office will be in Charlotte and the bank’s headquarters will remain here, Stickler says. Moynihan, 50, had been based in Boston.

Moynihan has held senior leadership positions at BofA representing experience across virtually all business lines. He currently is president of consumer and small-business banking, which has relationships with about 53 million households and small businesses across the United States.

“Brian’s wide range of experience, his relationships inside and outside of the company, and his demonstrated ability to understand business dynamics and effect constructive change made him the best person for the position,” Walter Massey, BofA chairman, said in a statement late Wednesday.

Massey led a search that considered both internal and external candidates. “Brian has been the top executive leading wealth management, corporate and investment banking, and consumer banking. His work with international clients in our capital markets businesses has given him broad knowledge of and perspective on global financial-services markets. He has excelled in every role, earning the loyalty and respect of customers and associates alike. In short, Brian brings the right combination of knowledge, experience, and leadership to achieve all of our company’s goals for the future.

“While we considered external candidates,” Massey added, “the board decided after listening to shareholders, regulators, and others that Brian’s experience was commensurate with or better than any of those candidates, and he offered the advantage of a smooth transition. Bank of America has a talented team, and one of our principal jobs as directors is to support that team as it goes about creating value for all of our constituencies.”

Moynihan, who was named to his current role earlier this year, joined FleetBoston Financial Corp. in 1993. He subsequently rose to senior positions at that company. BofA acquired Fleet in 2004.

“I am honored to have the opportunity to lead this important company,” Moynihan said in a statement. “We have everything we need at Bank of America to be the best financial-services company in the world. We have leading positions in every important sector and market. We have capabilities that I believe match or exceed all our competitors. We have the right values and culture, and we have an unbelievably dedicated management team and associate base.

“What we need to do now is very simple,” Moynihan added. “We need to execute. This company has a long tradition of operational excellence and strong execution. My goal is to refocus our efforts and attention on those core capabilities that will make us the best financial services firm in the world.”

Earlier this week, it appeared Bank of New York Mellon chief executive Bob Kelly was poised to become the next leader of BofA. He was mentioned in multiple reports as being in negotiations with BofA's board.

But on Monday evening Kelly, a former Wachovia Corp. chief financial officer, sent a memo to members of his staff, telling them he had decided to remain at BNY Mellon.

There has since been speculation that Kelly and the board couldn't agree on how much power and pay he should receive. Other reports have suggested BofA's board was split about hiring an outsider.

Two days later, the board settled on Moynihan.

The news follows months of speculation and uncertainty at the bank. When Lewis announced his retirement plans in September, many thought it was a polite way for the bank's board to move on. But the topsy-turvy search process quickly revealed BofA was not prepared for Lewis to leave.