Head Of Troubled Bank Of America Unit Leaves

Bank of America's head of global structured products such as mortgage-backed securities has left the company.

Chris Hentemann's departure Friday came a day after the Charlotte-based bank reported a 32 percent drop in third-quarter income and said results were hurt by its investment bank.

Investments under Hentemann dropped in value this summer during a global credit crunch that led to an increase in mortgage defaults and foreclosures.

A bank spokeswoman wouldn't give a reason for the executive's departure.