Bank of America has reorganized its personal retirement solutions business into five areas, according to an internal memo released late Jan. 20.

"As part of our ongoing efforts to organize our business and capabilities around client needs and better align with our 2011 strategic growth plans, we are restructuring personal retirement solutions (PRS) into five areas of focus to be led by members of the newly named PRS leadership team," David Tyrie, the head of Bank of America's personal retirement solutions unit, said in the memo.

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