Coulter Tells B of A Employees He Will Stay

BankAmerica Corp. Chief Executive David Coulter told employees he will stay after the bank merges with Charlotte, N.C.-based NationsBank Corp., moving to quell speculation that he would leave and collect a severance package worth more than $30 million, several BankAmerica employees said. After commenting on other merger-related matters in a voicemail message to employees last week, Coulter said he wanted to clarify his situation. He said he isn’t going anywhere and is with the bank for the long haul, according to people who heard the message. Coulter, 50, will become president of the combined bank when the merger is completed later this year. San Francisco-based BankAmerica declined to comment on Coulter’s message. The banks this week received the final regulatory approvals to complete the merger.